Enel Green Power has signed an agreement with Danish Government-owned Export Credit Agency and Citigroup for a EUR 112 million loan over 12 years, which should fuel investments in wind energy projects in Romania.

This financing will be used to cover part of the investments required to build and expand Enel Green Power Romania wind power plants (Moldova Noua and Corugea) so as to arrive at a total installed capacity of 118 MW. These investments are expected to total EUR 180 million.

The interest rate for the financing will be lower than the benchmark rate, thanks to the guarantee issued by EKF, whose institutional role involves supporting Danish parts manufacturers from which Enel Green Power Romania buys products to build the two wind power plants, the company has announced.

Enel Green Power’s 70 MW “Salbatica II” wind farm is now operational in Romania. The plant, composed of 35 wind turbines of 2 MW each, is located near Tulcea, in the North Dobrogea area.

The Salbatica II wind farm is expected to generate around 200 million kWh annually, enough to meet the power consumption needs of 66,000 households as well as avoiding the atmospheric emission of approximately 140,000 tonnes of CO2 per year.

“We keep expanding our presence in Romania at a rapid pace, after having completed our second plant just a few months ago,” said Francesco Starace, CEO of Enel Green Power. “Among renewables, wind power is certainly the most promising technology for Romania due to the country’s wind generation potential. Enel Green Power will continue to invest in Romania and welcomes, towards this end, the recent approval by the Government of its renewables support schemes.”

Salbatica II joins the first two EGP wind farms of Agighiol and Salbatica I. With a total installed capacity of 174 MW, these plants will generate over 480 million kWh per year, enough to meet the needs of some 160,000 households as well as avoiding the emission of more than 200,000 tons of CO2 per year.

editor@romania-insider.com