EBRD and IFC lend EUR 73 mln to EDP Renováveis' Pestera wind farm in Romania

The European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) will lend EUR 73.3 million to co-finance the operation of the 90 MW Pestera wind farm in Romania. Pestera Power SA, majority-owned by EDP Renováveis (EDPR) will receive EUR 36.7 million from each of the two lenders. This is the second investment and project financing by EBRD and IFC in the renewable energy sector in Romania, following their joint investment last month in the 138 MW Cernavoda wind farm, also majority owned by EDPR. “The Cernavoda and Pestera project financings will have a very high demonstration impact on project financing for renewables and will pave the way for the further development of this sector,” said Nandita Parshad, EBRD Director for Power and Energy. The Pestera and Cernavoda wind farms in the Dobrogea region of Romania will together comprise one of the largest wind farms in the country, with a total capacity of 228 MW. This will represent roughly 40 percent of the total wind generation capacity in Romania. editor@romania-insider.com (photo source: Sxc.hu)