The 42 turbines will be located in the municipalities of Dorobantu, Topolog and Casimcea in the Tulcea region, the bank said in a statement Friday.
The project, whose overall cost reaches EUR137.9 million, will support Romania in increasing its renewable energy capacity to meet EU’s green energy targets, the statement reads.
Land Power is a limited liability company incorporated in Romania and it is 100% owned by LUKERG Renew GmbH, a renewable energy development company incorporated in Austria. LUKERG is a 50-50 joint venture between Russian energy company LUKOIL-Ecoenergo (100% owned by LUKOIL) and Italian energy company ERG Renew SpA.
Lukerg Renew bought last year the 84 MW project from Italian company Inergia. The company announced ever since last year that it was in talks with the EBRD as regards getting financing for the construction of the wind farm.