EDP Renovaveis Romanian Wind Farms May Get $70 Million From EBRD

The European Bank for Reconstruction and Development may loan 58.2 million euros ($70 million) to two Romanian wind farms owned by EDP Renovaveis SA, the world’s third-largest wind energy company.

The money will be used to complete connections to the national grid and for testing, Ina Coretchi, a spokeswoman for the EBRD, said by e-mail. The 33-megawatt Sarichioi and 24-megawatt Vutcani sites in eastern Romania started up this year.

Romania is expected to double wind energy production in 2012 thanks to government incentives, Ion Lungu, president of the country’s Association of Electricity Suppliers, said in May. A 60-day environmental review begun yesterday must be finished before the deal is signed, according to an EBRD project summary.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE