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

To contact the editor responsible for this story: James M. Gomez at

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