The EBRD and IFC are lending EUR57.4 million each to Cernavoda Power SA, majority owned by Portugal’s EDP Renovaveis, to finance the construction and operation of the wind farms, which have a total capacity of 138 MW, EBRD said in a statement Wednesday.
This is the first investment and project financing by the EBRD and IFC in the renewable energy sector in Romania.
“Supporting renewable energy projects is one of the EBRD’s key priorities. The Cernavoda wind farm will considerably scale up Romania’s wind generation capacity, helping the country to meet EU green energy quotas,” said Nandita Parshad, EBRD Director for Power and Energy.
The Cernavoda wind farms, located in the Dobrogea region of Romania, will together comprise one of the largest wind farms in the country. Cernavoda I with 69 megawatts is already in operation, while Cernavoda II with another 69 megawatts is currently being commissioned. The total capacity will represent a quarter of the total wind generation capacity in Romania.