Developer Juwi nails €252m loan

German renewables developer Juwi has signed an agreement over a €252m ($337m) syndicated loan with a German banking consortium that it says ensures its financial basis for operating its business for the next three years.

“It is a distinctly visible act of faith from the financial world which cannot be valued highly enough against the backdrop of the problems of many other companies, especially in the solar sector,” says Sascha Röber, Juwi’s head of corporate finance.

Among the 13 banks in the consortium are Deutsche Bank, DZ Bank, Unicredit, and German development bank KfW.

Privately-held Juwi doesn’t provide full financial figures, but says it had a turnover of about €1.1bn last year, and that is has consistently made profits over the past years.