Copenhagen Infrastructure Partners reaches financial close on 392 MW Onshore Wind Farm

Copenhagen Infrastructure Partners (CIP), through its Growth Markets Fund II, announced financial close for the 392 MW Pestera II onshore wind project in Constanța County, Romania.

The project represents one of the largest investments in new renewable energy infrastructure in Romania and one of the largest project finance transactions in Central and Eastern Europe.

The Pestera II project concluded a 15-year contract for difference (CfD) for 245 MW of its capacity in December 2024. The project is expected to reach commercial operations in 2028 and will contribute significantly to enhancing Romania’s security of supply while delivering competitively priced renewable power for the long term.

The Pestera II project finance comprises facilities of approximately EUR 510 million (US$581.09 million) provided by a consortium of seven local and international commercial banks: Erste Bank and Banca Comerciala Romana, Deutsche Bank, Societe Generale and BRD, Eurobank, and Piraeus Bank. Equity is funded by the project owners: GMF II and two co-investors, the European Investment Bank and a Danish pension fund.

Main construction contracts have been entered into with Nordex, as the turbine supplier for 56 of its N163-6.X 7.0 MW turbines, and Electrogrup, as the balance of plant contractor. Blue Power Partners will provide construction management services.