The European Bank for Reconstruction and Development (EBRD) has arranged a €57 million loan for the development of the Topolog-Dorobantu wind farm in the southeast Romania.
The EBRD financing is structured under the Bank's A/B loan scheme, with €38 million on the EBRD's own account and the rest for the account of UniCredit. The loan will have a maturity of 14 years.
The 84 MW Topolog wind farm will comprise 42 Vestas V90 2 MW wind turbines and is being built by LUKERG Renew, a joint venture between Italy's ERG Renew and Russia's LUKOIL-Ecoenergo.
The facility will generate more than 200 GWh of electricity per year, corresponding to around 85 kt of avoided CO2 emissions, EBRD says.
To date, EBRD has mobilised finance of over €220 million and invested €164 million in eight wind projects in Romania. They are: Crucea North Wind Farm (108 MW), Cernavoda I and II (138 MW), Pestera (90 MW), Chirnogeni (80 MW), Vutcani (24 MW) and Sarichioi (33 MW) wind farms.
"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," commented EBRD senior banker Louis Borgo.
Linkedin
