The European Bank for Reconstruction and Development (EBRD) is considering providing a senior loan of up to EUR 68 million to German company STEAG for the construction, commissioning and operation of a 108 MW wind farm in Doborgea region, Romania.

The farm will consist of 36 wind turbines and the project will cost up to RON 192 million. The remaining funding is being provided by other financial institutions and STEAG.

“Supporting a new private entrant in the market will promote private sector investment in Romania’s energy sector and help the country to meet EU green energy targets,” reads the EBRD statement.

Crucea Wind Farm S.A. will be 100 per cent owned indirectly by STEAG, a leading power producer in Germany. STEAG is owned 51 percent by a consortium of seven municipal utilities of the Rhine-Ruhr region in Germany and 49 per ent by Evonik Industries AG.

The EBRD loan has passed concept review and is currently pending final review. More about the project here.

The EBRD has played a significant role in co-financing infrastructure projects in Romania. Renewable energy projects, along with water supply and sewage systems in particular have attracted funding from the bank.

Irina Popescu, irina.popescu@romania-insider.com