LUKERG Renew borrows 67 mln euro to finance wind park in Romania

LUKERG Renew, a joint venture between Italy's ERG Renew and Russia's LUKOIL-Ecoenergo, said on Wednesday it is borrowing 67 million euro ($92.5 million) to finance a 70 megawatt (MW) wind park in Romania.

LUKERG Renew signed a project finance loan agreement with Raiffeisen Bank International AG and ING Bank NV to finance the Gebeleisis wind farm, located in the Galati region in the southeast of the country, the company said in a statement.

The loan should be repaid in 11 years.

LUKERG Renew acquired the 70 MW wind farm from Denmark's Vestas Wind Systems for an estimated 109.2 million euro in July last year.

($=0.7243 euro)

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