CIP secures CfD contract for 400 MW Pestera II onshore wind project in Romania

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

Copenhagen Infrastructure Partners (CIP) has secured a Contract for Difference (CfD) for 245 MW of its approximately 400 MW Pestera II onshore wind project in Constanta, southeast Romania.

Earlier in 2024, Copenhagen Infrastructure Partners' Growth Markets Fund II (GMF II) reached an agreement to acquire the Pestera II project from its original developers. This onshore wind project in Romania has an installed capacity of up to 396 MW and represents a total investment of approximately EUR 500 million (US$ 543 million). Following its successful participation in Romania’s first CfD auction in November 2024, the project secured a CfD contract with a duration of up to 15 years from its commercial operation date (COD) at a strike price of €64.9/MWh.

Romania’s CfD scheme is designed to support the development of 3 GW of new onshore wind and 2 GW of new solar capacity through two auctions scheduled for 2024 and 2025. The initiative is backed by EUR 3 billion (US$ 3.2 billion) in dedicated funding from the EU Modernisation Fund. As part of this effort, the European Investment Bank (EIB) has committed EUR 30 million (US$ 32.6 million) in co-investment for the project, in addition to its planned investment as part of the consortium backing GMF II. Earlier in 2024, the EIB also announced a US$100 million commitment to GMF II.

List of the country updates

Country updates

  • March 06, 2025

    MET Group starts construction of 80 MW solar park in Dâmbovița county

    Swiss-based MET Group has commenced the construction of its 80 MWp solar project in the Răscăeți municipality (Dâmbovița county), Romania.  The company’s renewable energy portfolio i...

    Read more
  • January 17, 2025

    DRI connects 60 MW solar park to grid in Romania

    DRI, the EU renewables arm of Ukrainian energy firm DTEK, has connected the 60 MW Glodeni II solar park to the grid located in Mureș County in Romania.

    Read more
  • December 30, 2024

    Econergy secures US$39.5 million financing for 92 MW solar farm in Romania

    Econergy Renewable Energy has secured EUR 38 million (US$39.5 million) financing from Raiffeisen Bank International (RBI) for acquiring, developing, and constructing the 92 MW Parau solar project whic...

    Read more
  • September 02, 2024

    Israeli developer secures US$ 122.5 million for solar plants in Romania

    Nofar Energy has obtained EUR 110 million (US$122.5 million) in financing from the European Bank for Reconstruction and Development (EBRD) and Raiffeisen Bank International to build two solar projects...

    Read more
  • August 09, 2024

    Funding secured for 60 MW solar plant in Romania

    The European Bank for Reconstruction and Development (EBRD) and Eiffel Investment Group have provided EUR 24.4 million (US$ 26.6 million) in funding to the INVL Renewable Energy Fund I, run by Lithuan...

    Read more

Share this update