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 (EBS), ING Groep NV (INGA) 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.
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