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EBRD and IFC approve EUR 115 mln loan for Cernavoda wind farms

The European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC), a World Bank member, have approved a EUR 114.8 million loan to co-finance the construction and operation of Cernavoda I & II wind farms, which total 138 MW of power

July 2011 - From the Print Edition

The international financial institutions – which are funding a renewable energy project in Romania for the first time – are both lending EUR 57.4 million to Cernavoda Power, majority owned by EDP Renovaveis, the world’s third largest wind energy company. Both will retain EUR 42.2 million for their own accounts, syndicating EUR 15.2 million each to a group of commercial banks.
The Cernavoda wind farms are located in the Dobrogea region. Cernavoda I (69 MW) is already in operation, while Cernavoda II (69 MW) is currently being commissioned. The total capacity will represent a quarter of the total wind generation capacity in Romania.



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