The overall cost of the project is estimated at EUR276 million, according to an EBRD news release.
“The EBRD is considering arranging up to EUR207 million, or 75% of the project’s costs, through the use of the Bank’s A/B loan structure and/or by parallel loans from IFIs and/or commercial lenders,” the news release notes.
This would be the first transaction whereby the EBRD funds a private conventional energy project in Romania.
Vimetco Power Romania was founded by Dutch-registered Vimetco for the first phase of this project.
The power plant will have a capacity of 250 MW and it is set for launch in 2014.
The power plant will supply smelter Alum S.A. and refinery Alro Slatina (ALR.RO), while also providing electricity to the town of Tulcea.