Eurowind Energy takes out €65 million loan for wind farm in Romania

Green Forum

23 April, 2024 at 11:00 AM

Eurowind Energy, a Danish developer and operator of wind, solar, and hybrid projects, secured a €65.33 million credit facility from BCR and Erste Group for the construction of the wind farm in Pecineaga, with a total capacity of 48 MW.

Banca Comercială Română SA (BCR) and Erste Group Bank AG (Erste Group) have equally financed the investment loan, each contributing €32.66 million. The loan matures at the end of 2040 and covers 70% of the total development costs of the Pecineaga park.

Additionally, the two banks provide a broader package worth €18 million, including financing for the VAT related to investments and other products dedicated to supporting the Pecineaga project.

The 48 MW wind farm in Pecineaga, developed by Eurowind Energy, is scheduled to become operational in the first quarter of 2025. It will have a production capacity of approximately 176,000 MWh per year and will be able to supply up to 48,000 households with green energy. The wind farm represents an investment of approximately €93 million.

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