The loan covers some 80% of costs for the project.
“The EBRD will provide EUR70 million of the total financing, with EUR40 million being syndicated via commercial banks – Erste Bank Group AG and Caixabank,” the EBRD said in a news release.
In addition, Hidroelectrica will contribute EUR26.9 million of its own funds to the project, which is set to unfold between 2011 and 2018.
The Bicaz unit was built between 1951 and 1960 and it has an installed power of 210 MW.
Hidroelectrica operates 273 hydropower plants and pumping stations, with an overall installer power of 6,482 MW.