German firm wins funds for €200m wind farm in Romania

A German power company has bagged funding for a €200 million (£165.7m) wind farm in southeastern Romania. The European Development Bank for Reconstruction and Development (EBRD) and Estre Group Bank […]

Register now!

By Priyanka Shrestha

A German power company has bagged funding for a €200 million (£165.7m) wind farm in southeastern Romania.

The European Development Bank for Reconstruction and Development (EBRD) and Estre Group Bank is providing €49 million (£40.6m) each while Banca Comercială Română (BCR) will provide a €27 million (£22.4m) loan.

STEAG GmbH will use the cash towards the construction, commissioning and operation of the 108MW Crucea North wind project in the Black Sea region of Dobrogea.

The wind farm will include 36 turbines and is expected to cut carbon emissions by around 140,000 tons a year.

James Hyslop, the EBRD’s Director for Romania said: “Crucea North will promote private investment in Romania’s energy sector and help the country meet EU green energy targets.”