EBRD could grant EUR 47 mln loan for new wind farm in South East Romania

The European Bank for Reconstruction and Development (EBRD) is considering granting a EUR 46.6 million loan towards setting up a new wind farm in Crucea, Dobrogea. The initial phase of the wind farm should be complete by Q4 2013, according to the local media.

Capacity at the wind farm in South Eastern Romania will be 40 megawatts at first with plans to increase to 100 megawatts later. The total cost is given as nearly EUR 70 million and the company in charge is Generacion Eolica Dacia, a subsidiary of Spanish energy firm Grupo Enhol. The EBRD management is expected to discuss funding approval in mid-December and the new project would be another step towards the EU's target of 20 percent of total energy from renewable sources by 2020 in Romania. Grupo Enhol has a variety of international operations in energy – both fossil fuels and renewable sources. The group developed its first wind farm in Spain in 1998 and since then via various subsidiaries has set up 22 wind farms with a capacity of over 532 megawatts in Spain, Bulgaria, Poland, India and Chile. Liam Lever, liam@romania-insider.com photo source: grupoenhol.es