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November 29, 2022

EBRD invests EUR 57 M in new wind power facility

The European Bank for Reconstruction and Development (EBRD) issues a EUR 57 million syndicated loan for the development of a wind power facility in Topolog-Dorobantu in south-eastern Romania, a press release informs. The purpose is to stimulate the Romanian renewable energy market. The loan follows EBRD’s A/B loan syndication structure, with the EBRD bank contributing EUR 28 million, and UniCredit the remaining amount.
The 84 MW wind power plant built by ERG Renew (Italy) and Lukoil-Ecoenergo (Russia) in a joint venture called Lukerg Renew will have 42 Vestas V90 wind turbines of 2 MW each; they will be located in Dorobantu, Topolog and Casimcea communes of Tulcea County. The facility will produce over 200 GWh of electricity each year, which is equivalent to preventing up to 85,000 tons of carbon dioxide emissions.
This is the eighth wind power plant financed by EBRD in Romania; the previous were Crucea Nord (108 MW), Cernavoda I and II (138 MW), Pestera (90 MW), Chirnogeni (80 MW), Vutcani (24 MW), and Sarichioi (33 MW); most of them are also located in the southeastern province of Dobrogea.
EBRD’s wind power portfolio in Romania stands at 473 MW, equivalent to roughly 18 percent of the country’s installed wind power capacity. The bank has drawn more than EUR 220 million of external financing to this effect, to which it added EUR 164 million of its own contribution.

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