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Romania : EBRD to provide EUR 57 million loan to ROMANIAN wind farm

June 10, 2014

The European Bank for Reconstruction and Development (EBRD) will provide a EUR 57 million loan supporting the development of the Topolog-Dorobantu wind farm in South East Romania. Financing from the EBRD is to be structured under the bank s A/B loan scheme with 38 million euros on the EBRD s own account and the balance for the account of UniCredit.

LUKERG Renew, a joint venture between Italy'sERG Renew and Russia's LUKOIL-Ecoenergo has constructed the 84MW wind farm, featuring 42 Vestas V90 2MW wind turbines situated in the municipalities of Doroban?u, Topolog and Casimcea in the Tulcea region of south-eastern Romania. It would generate nearly 200GWh of electricity per year, representing around 85 kt of carbon dioxide emissions saved from entering the atmosphere.

For EBRD, this facility is the eighth wind farm being financed in Romania, as the Bank earlier financed the 108 MW Crucea North Wind Farm, the 138 MW Cernavoda I and II and the 90 MW Pestera wind farms, the 80 MW Chirnogeni wind farm and the 24 MW Vutcani and 33 MW Sarichioi wind farms, mostly located in the Black Sea region of Dobrogea.

EBRD Senior Banker Louis Borgo, said, Romania has large potential in renewable energy. We are happy to have been able to provide much-needed long-term financing to projects that help the country generate clean energy and support transition to a low-carbon economy. At the EBRD we are very proud to have made a significant contribution to helping Romania reach its renewable energy targets.

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Source: TendersInfo (India)

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