© ICIS HEREN - EBRD boosts renewable electricity investment in Romania

Romania will receive a €114.8m loan for renewable energy from the European Bank for Reconstruction and Development (EBRD) and the IFC, an arm of the World Bank.
The loan will be used to construct the two Cernavoda wind farms with a total installed capacity of 138MW. The EBRD and the IFC are lending €57.4m each to Cernavoda Power, which is majority-owned by Portugal`s EDP Renováveis.
The Cernavoda project is located in Romania`s Dobrogea region. Cernavoda I is in operation and Cernavoda II is being commissioned. Each farm has a capacity of 69MW, and will represent one-fourth of the total installed wind capacity in Romania when completed.
Romania`s wind capacity is expected to grow to 3.6GW by 2015.
Czech utility ČEZ received a loan of €200m from the European Investment Bank to finance a 347.5MW wind farm in Romania in December (see EDEM 17 December 2010).

(THE ICIS HEREN REPORTS - EDEM 15117 / 22 June 2011)

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