Societe Generale, UniCredit and CaixaBank have syndicated a EUR 50 million loan to finance Pestera and Cernavoda wind parks in Romania, developed by the Portuguese company EDP Renovaveis, with funding from the EBRD and IFC, according to Mediafax newswire.

Cernavoda Power Project will be one of the largest wind parks in Romania. Cernavoda I, with a capacity of 69 MW, is already functional, while Cernavoda II, with a similar capacity, is about to be put into use. Pestera Project will have an installed capacity of 90 MW. Thus, both parks will have a total capacity of 228 MW, representing about 40 percent of the wind energy in Romania. The construction at the Pestera wind park was completed in October, 2010.

EDP ​​Renovaveis has activities in six European countries, namely Romania, Portugal, Spain, France, Belgium and Poland, in USA and Brazil, and is considered number three in the world in wind energy production.

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