Lukerg Renew agrees on EUR 67 mln loan for Romanian wind park project

Italian ERG Renew and Russian Lukoil recently arranged for a EUR 67 mln loan from Raiffeisen Bank International and ING Bank for a wind energy project in Romania. The project is carried out through Lukerg Renew, a joint – venture between the two companies. The Gebeleisis wind park, with a capacity of 70 MW, is located in the Galati area of Romania and was taken over last year from Danish Vestas, for some EUR 109.2 million. The project became operational last year and contains 35 wind turbines of 2 MW each. ERG Renew and Lukoil-Ecoenergo signed a joint venture agreement in 2011 for Lukerg Renew, based in Vienna. The joint venture would initially focus its operations on Bulgaria and Romania, followed by Ukraine and Russia, according to previous announcements. Earlier this year, the JV announced it finalized the construction and commissioning of the Topolog-Dorobantu wind farm in the Romanian region of Tulcea, with an installed capacity of 82 MW. editor@romania-insider.com