The EBRD and the IFC will lend EUR36.7 million each to Pestera Power SA, majority-owned by EDP Renovaveis (EDPR), the world’s third-largest wind energy company, the European bank said in a statement Tuesday.
This is the second investment and project financing by EBRD and IFC in the renewable energy sector in Romania, following their joint investment last month in the 138 MW Cernavoda wind farm, also majority owned by EDPR.
“Pestera and Cernavoda wind farms will make a significant contribution to Romania’s renewable energy production and improve electricity supply to consumers and businesses,” said Snezana Stoiljkovic, IFC Director for Eastern Europe and Central Asia.
The Pestera and Cernavoda wind farms in the Dobrogea region of Romania will together comprise one of the largest wind farms in the country, with a total capacity of 228 MW. This will represent roughly 40% of the total wind generation capacity in Romania, the EBRD said.