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EBRD invests in Rumanian wind farm

Location:
10th June 2014  To: 10th June 2014

The European Bank for Reconstruction and Development (EBRD) is to provide a 57 million euro loan for the development of the Topolog-Dorobanțu wind farm in south east Rumania. 

The EBRD financing is to be structured under the bank’s A/B loan scheme with 38 million euros on the EBRD’s own account and the rest for the account of UniCredit.

The 84MW wind farm has been constructed by LUKERG Renew, a joint venture between Italy's ERG Renew and Russia's LUKOIL-Ecoenergo. It consists of 42 Vestas V90 2MW wind turbines located in the municipalities of Dorobanțu, Topolog and Casimcea in the Tulcea region of south-eastern Romania and will generate more than 200GWh of electricity per year. This represents around 85 kt of carbon dioxide emissions saved from entering the atmosphere.

The facility is the eighth wind farm EBRD has financed in Romania. The Bank  previously 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 as well as the 24 MW Vutcani and 33 MW Sarichioi wind farms, most of which are located in the Black Sea region of Dobrogea. This brings the total size of EBRD’s wind energy portfolio in the country to 473MW, representing 18 per cent of Romania’s 2,619 MW of installed wind power capacity.

“Romania has large potential in renewable energy” said EBRD Senior Banker Louis Borgo. “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.” 

 

Since the start of its operations in the country, the EBRD has invested approximately €6.7 billion across 360 projects. The Bank has further mobilised over €14 billion for these ventures from other sources of financing.

Url: www.renewableenergymagazine.com/article/ebrd-invests-in-rumanian-wind-farm-20140609

 

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