BELECTRIC has signed a comprehensive new funding structure with its existing banking consortium lead by UniCredit Bank AG. Despite the challenging economic climate within the industry, BELECTRIC was able to increase its funding framework by 30 percent. In addition to the currently financing UniCredit Bank AG and Commerzbank AG new banks like HSH Nordbank AG, IKB Deutsche Industriebank AG and Bayerische Landesbank have agreed to join the consortium, thus spreading the funding over a broader base. Crucial to the successful outcome of the negotiations were the extremely positive business development and the company's market position. The new agreement gives BELECTRIC the sound financial footing it requires to continue pursuing its sustainable and efficient strategy for growth.
"The new credit facility means we have not only improved our funding structure, but have also adapted it to provide the perfect solution for our business model," explained Michael Belschak, Chief Financial Officer of BELECTRIC Holding GmbH, on signing the new agreement. He continued: "It strengthens the global competitiveness of BELECTRIC and allows us to respond even more quickly and flexibly to new growth markets." BELECTRIC is one of the most successful international enterprises in the development and construction of utilityscale ground-mounted solar power plants and roof-mounted photovoltaic systems. As an international company, BELECTRIC is represented in more than 20 countries. Its position as technology leader is a result of the high degree of vertical integration in the development and manufacturing processes. The combination of economical and ecological interests has always been the basis for the sustainable success of our nearly 1,750 employees. BELECTRIC demonstrates its great innovative spirit, with over 100 active patents.
"The new credit facility means we have not only improved our funding structure, but have also adapted it to provide the perfect solution for our business model," explained Michael Belschak, Chief Financial Officer of BELECTRIC Holding GmbH, on signing the new agreement. He continued: "It strengthens the global competitiveness of BELECTRIC and allows us to respond even more quickly and flexibly to new growth markets." BELECTRIC is one of the most successful international enterprises in the development and construction of utilityscale ground-mounted solar power plants and roof-mounted photovoltaic systems. As an international company, BELECTRIC is represented in more than 20 countries. Its position as technology leader is a result of the high degree of vertical integration in the development and manufacturing processes. The combination of economical and ecological interests has always been the basis for the sustainable success of our nearly 1,750 employees. BELECTRIC demonstrates its great innovative spirit, with over 100 active patents.
