European Investment Bank commits EUR 30 mln to major onshore wind farm in eastern Romania

The European Investment Bank (EIB) has pledged up to EUR 30 million to support the development of one of Romania’s largest onshore wind farms, Pestera II, near the city of Constanta on the Black Sea coast. The investment will co-finance the project alongside funds managed by Copenhagen Infrastructure Partners (CIP), a Danish firm specializing in renewable-energy projects.

With a planned capacity of up to 400 megawatts, Pestera II is expected to supply clean energy to over 1.4 million Romanian households annually. The total investment in the project is estimated to exceed EUR 500 million, with construction set to begin later this year.

“This flagship initiative not only enhances Romania’s renewable-energy capacity but also contributes to the EU’s ambitious climate and sustainability objectives,” said EIB Vice-President Ioannis Tsakiris.

“We expect that Pestera II will deliver long-term affordable power that strengthens Romania’s energy independence and supports the country’s decarbonisation goals,” stated, in turn, CIP partner Radu Gruescu “Beyond that, we look to expand CIP’s presence in Romania’s energy transition with further investments.”

CIP is the world’s largest fund manager dedicated to greenfield renewable-energy investments, with expertise in wind, solar, and biomass projects. The firm has raised approximately EUR 32 billion from over 160 institutional investors and manages a portfolio of clean-energy initiatives worldwide.

The EIB is the long-term lending institution of the European Union, owned by its Member States. The EIB Group, which also includes the European Investment Fund (EIF), signed nearly EUR 89 billion in new financing for over 900 high-impact projects in 2024.

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