Cyprus’s EPGE Plans to Invest $191 Million in Romanian Wind Farm

EPGE, a Cyprus-based privately held company, plans to invest about 135 million euros ($191 million) in a wind farm in Romania and the European Bank for Reconstruction and Development may help finance the project, the bank said on its website.

EPGE seeks to build an 80 megawatts wind park in the southern Romanian region of Dobrogea, one of the country’s windiest areas, according to EBRD. The construction is expected to start in the first part of 2012 and last about one year.

EBRD said it may lend about 93 million euros to EPGE for the project, which also includes the upgrade of about 42 kilometers of electricity transmission lines, according to the statement.

To contact the reporter on this story: Andra Timu in Bucharest at atimu@bloomberg.net.

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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