• Peștera II onshore wind farm will have an installed capacity of 392 MW and is one of the largest renewable energy infrastructure investments in Romania.
• The project is developed by Copenhagen Infrastructure Partners (CIP), an investor recognised for developing renewable energy infrastructure worldwide.
• BCR, together with Erste Group Bank AG, acted as Senior Lenders and Hedging Banks, with BCR also serving as Facility and Security Agent, Issuing Bank and Account Bank

Banca Comercială Română (BCR) and Erste Group Bank AG have provided EUR 151 million in green financing for the construction of the 392 MW Peștera II onshore wind project in Constanța County, a project owned by investment funds managed by Copenhagen Infrastructure Partners, an investment firm specialising in the development and construction of renewable energy infrastructure projects worldwide.

The total financing package amounts to EUR 510 million and is provided by a consortium of seven local and international commercial banks, with the equity funded by the project’s owners through CIP’s Growth Markets Fund II (GMF II), the European Investment Bank and a Danish pension fund.

BCR and Erste Group Bank AG act as senior lenders and hedging banks. BCR also serves as Security Agent and Facility Agent, while acting as issuing bank and account bank.

The project is one of the largest renewable energy investments in Romania and one of the largest green financings in Central and Eastern Europe.

Manuela Trisnevschi, Head of Energy and Utilities, BCR: BCR is a financing partner for the companies modernising Romania’s energy sector, and a project of Peștera II’s scale shows how much expertise and experience in structuring complex financings matter. We are pleased to stand alongside Copenhagen Infrastructure Partners in one of the largest renewable energy projects in Central and Eastern Europe, one that strengthens Romania’s energy security and reinforces the country’s position as a hub of energy diversity in the region.

Peștera II is also the largest wind project in Romania to be supported under the Contracts for Difference (CfD) scheme launched at the end of 2024. Located across the communes of Peștera and Ciocârlia in Constanța County, the project qualified for CfD support over a 15-year period for an installed capacity of 245 MW.

The wind farm is expected to become operational in 2028, contributing to the strengthening of Romania’s energy security.

Cătălin Bojoga, Senior Banker Energy & Utilities, BCR: For us, it all starts with how Romania can lead the region’s energy transition. And the Peștera II wind farm is exactly the type of investment in which BCR proves its role as a partner for complex projects, where expertise in structuring the financing is matched by a deep understanding of the energy sector and its challenges”.

This green transaction was supported by several advisers, including White & Case and Bondoc & Asociații as legal counsels to the bank syndicate, EY as financial and tax adviser, and Marsh as insurance adviser on the financing.

In 2025, BCR provided over EUR 800 million in financing to Romania’s energy sector through bilateral and syndicated structures, for projects totalling more than 1,150 MW of installed capacity. Over EUR 300 million

went to new renewable energy projects, with BCR acting as the leading banking partner across investments in generation capacity, distribution networks and storage solutions.