Aukera BV (“Aukera”) is the Project Sponsor. Founded in 2021, the company focuses on the development, construction and operation of renewable energy and battery storage assets across Europe. Aukera is incorporated in Belgium and has secured a ca. 14.5 GW renewable energy pipeline across the UK, Belgium, Romania, Germany and Italy, 810 MW of which is under construction. The Company employs ca. 120 professionals across planning, development, contracting and construction, with dedicated local teams in Romania and a corporate BESS team - providing in-house capacity to execute the pipeline, now moving from development into construction and operations.

Aukera is majority-owned by AtlasInvest, a private investment firm focused on the energy sector, and Reggeborgh, a Netherlands-based, long-term infrastructure investor active in developed markets (together 55.5%). SFPIM, the Sovereign Wealth Fund of Belgium, became a shareholder (8.9%) in October 2025 as part of Aukera’s third-round capital raise. The balance is held by management, employees and other minority investors, none of whom hold more than 5% individually.

Total cost of the Project is estimated to reach approximately €450 million. IFC’s proposed investment consists of an up to €48.5 million construction bridge facility, potentially including a VAT tranche, for Stage I. This will be refinanced as part of Stage II, involving a senior debt package arranged by the IFC of up to €236 million, structured as (i) an A loan of up to €100 million for IFC’s own account, and (ii) up to €136 million to be mobilized from commercial lenders as B/parallel loans. In addition, IFC will provide up to €40 million in subordinated junior financing. The balance of funding is expected to be provided by additional subordinated junior financing and Sponsor equity, which includes previously committed equity and a €10 million grant from Romania’s National Recovery and Resilience Plan (“PNNR”).

The Project spans four sites in Romania: Stage I projects are located in Gura Ialomitei, in the South-East of the country, and Stage II projects are located in the municipalities of Roman and Dumbrava in the North-East, and Lacut Sarat in the South-East of Romania.

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