EGL Gas & Power buys wind energy from EDP Renewable’s farm in Pestera

EGL Gas & Power Romania will buy wind energy from EDP Renewables Romania's wind park in Pestera, in Constanta county. The project is still under construction and should be functional by the end of this year. The wind farm project has a capacity of 90 MW. “For the EGL Group, Romania is a core and leading energy market in Europe's southeast region. We are planning to grow sustainably in this market over the next years,” said Markus Brokhof, head of the gas supply & SEE division and member of the executive management of the EGL Group. EGL Romania provides end-consumers with electricity and natural gas and is specialised in electricity balancing and portfolio management services, as well as trading electricity and CO2. EGL Romania is a subsidiary of the EGL Group, a European energy trading company with own assets. In turn, the EGL Group is a member of the AXPO Group and listed on the SIX Swiss Exchange. EGL holds interests in Swiss power plants and in a wind park in Spain, owns two gas-fired combined-cycled power plants in Italy, and holds long-term electricity supply contracts with electricity producers in France. It is investing in the construction of its own production capacities and transport infrastructure in key European markets. EDP's wind project in Pestera is being partially financed by the European Bank for Reconstruction and Development (EBRD). EDP is also working on a 138 MW wind farm in Cernavoda. The total project cost is EUR 302 million, out of which EUR 116 million for Pestera and EUR 186 million for Cernavoda. The EBRD financing can cover up to 35 percent of the project cost.