Erste’s BCR Lends $21 Million to Espe for Romanian Power Plant

Banca Comerciala Romana SA, Romania’s largest bank, lent 17 million euros ($21 million) to Italy’s Espe Srl’s unit to help finance the construction of a hydroelectric plant in the Balkan country.

Espe will invest 23 million euros in the 9.9-megawatt plant to be located on the Sapanta river in the Maramures region, the bank, known as BCR, said in an e-mailed statement today.

“The portfolio of renewable energy projects approved by BCR has a combined capacity of more than 100 megawatts, consisting mostly of wind and small hydroelectric plants projects,” Ioana Gheorghiade, project finance executive director at BCR, said in the statement.

Bucharest-based BCR is a unit of Austria’s Erste Group Bank AG. (EBS)

To contact the reporter on this story: Irina Savu in Bucharest at isavu@bloomberg.net.

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

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.