EBRD, Erste, ING, Unicredit Finance Wind Project in Romania

The European Bank for Reconstruction and Development and three commercial banks will provide 91 million euros ($116 million) for a wind farm project in Romania, the London-based EBRD said.

The EBRD will lend 31 million euros for the 80 megawatt wind project, located in the Dobrogea region, near the Black Sea, according to a statement from the bank today. Erste Group Bank AG, ING Groep NV and UniCredit Bank Austria AG will lend a combined 60 million euros.

Marguerite Fund, a Luxemburg-based equity fund, will purchase a 50 percent stake in the project, while EnerCap Power Fund will acquire another 30 percent stake, according to the statement. EP Global Energy, the project’s developer, will retain a 20 percent holding in the wind farm.

The total cost of the project is estimated at 130 million euros, the EBRD said.

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