Financing secured for 48 MW Onshore wind project in Romania
Eurowind Energy has successfully obtained a credit facility of EUR65 million (US$69.52 million) to finance the construction of a 48 MW onshore wind project known as the Pecineaga wind farm in Romania. The credit facility is a collaborative effort between Erste Group Bank and its Romanian subsidiary, Banca Comerciala Romana. Each bank will contribute EUR 32.66 million (US$34.93 million), covering 70% of the project's total development costs.
Apart from the credit facility, Eurowind Energy will also benefit from a comprehensive package worth EUR18 million (US$19.25 million) provided by Erste Group Bank and Banca Comerciala Romana. This package includes assistance with value-added taxes (VAT) and other specialized products aimed at supporting the successful execution of the Pecineaga project.
The Pecineaga wind farm features eight SG 6.6-170 turbines that sit on 135-m towers, generating approximately 176,000 MWh annually, with the capacity to supply electricity to 48,000 households each year. It is expected to be operational by the first quarter of 2025 and requires an overall investment of EUR93 million (US$99.47 million).
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