LUKERG Renew Closes Acquisition, Financing of Wind Farm in Bulgaria

LUKERG Renew, a 50/50 joint venture between Italy’s ERG Renew and Russia’s LUKOIL-Ecoenergo, said it has closed the 52 million euro ($65.4 million) acquisition of a 100% equity interest in a wind farm in the eastern Bulgarian region of Dobrich.

LUKERG Renew said in a statement on Wednesday the acquisition of the 40 megawatt wind farm, operational since 2009, was completed through its subsidiary LUKERG Bulgaria.

LUKERG Bulgaria has also signed a 33.7 million euro project finance loan agreement with Raiffeisen Bank International as mandated lead arranger to partially finance the acquisition, the statement said.

($ = 0.7948 euro)

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