EBRD to provide 49 mln euro loan for 108 MW wind farm in Romania

The European Bank for Reconstruction and Development (EBRD) said on Tuesday it will provide a senior loan of 49 million euro ($67.4 million) for the construction of a 108 megawatts (MW) wind farm in Romania.

Parallel to EBRD's funding, Austria's Erste Group will contribute 49 million euro, while Erste's Romanian subsidiary Banca Comerciala Romana (BCR) will provide a 27 million euro value added tax funding loan facility, EBRD said in a statement.

Crucea North wind farm, located in the southeastern Dobrogea region, is owned by German power producer STEAG GmbH and will comprise 36 turbines. The total cost of the project is expected to be approximately 200 million euro.

Preliminary construction works at the wind park began late last year and are scheduled to be completed by mid-2015.

The project is expected to reduce CO2 emissions by 140,000 tonnes per year.

($=0.7266 euro)

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