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Kommunalkredit provides development financing for Italian battery energy storage system portfolio

Borrowing base facility to fund further development activities

Kommunal Kredit logo

Vienna, 08/05/2024
Kommunalkredit Austria AG (Kommunalkredit) acted as Mandated Lead Arranger (MLA) for WElink Group (WElink), providing a EUR 20m borrowing base facility for a 1.6 GW pre-ready-to-build (RTB) battery-energy storage-systems (BESS) portfolio in Italy.
The BESS portfolio comprises twelve plants across Italy, with four projects already acquired and the balance under development contract for near-term acquisition.
“Battery energy storage systems will play a pivotal role in the energy turnaround. Through storing excess renewable energy for times of higher demand, they are smoothing out fluctuations and ensure stability & reliability of the grid. Therefore, we are proud to have supported WElink, and together with their experienced team, we are driving the transition to a more sustainable energy future”, said Kommunalkredit CEO Bernd Fislage.
“This borrowing base facility will enable WElink to further expand its BESS portfolio in Italy and deliver critical infrastructure to a core market. This facility further extends the funding relationship that we have with Kommunalkredit, and it is very rewarding to be engaged with such a strategic funding partner, as we work in partnership to create further opportunities across the renewable energy development pathway through to operation of the projects”, said Barry O’Neill, CEO WElink Group.

Project Coordinator, WElink Energy, Africa

WElink Energy is recruiting a Project Coordinator to oversee all facets of project development for our opportunities in Africa, including design, engineering, procurement, supply chain, project management, construction activities, and commissioning.

The Project Coordinator will be responsible for coordinating all aspects of assigned WElink projects, from pre-construction, construction, to the post-construction phases, ensuring timely completion, adherence to quality standards, and compliance with safety regulations.The Project Coordinator will report to the Project Manager and will be responsible for reporting on project progress and raising gaps in performance to WElink’s management and ensuring corrective measures.

How to Apply:  To be considered for this position, please email your CV and a cover letter to [email protected]