BCR, Erste Group provide EUR 151 mln in green financing to 392 MW wind energy project in Romania’s Constanța
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 specializing 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 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.
It is also the largest wind project in Romania to be supported under the Contracts for Difference (CfD) scheme launched at the end of 2024, lender BCR said.
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.
The 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 totaling 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.
simona@romania-insider.com
(Photo source: BCR)
