Enel takes out EUR 200 mln EIB loan to partially fund local wind investments

Enel Green Power International, the renewable arm of Italian utility Enel, struck a deal with the European Investment Bank (EIB) on a EUR 200 million loan that will allow the company to finance renewable investments in Romania.

The fresh loan deal follows on funding agreements worth EUR 600 million sealed in the last three years with the EIB.

“The 15-year loan has a pre-repayment grace period of up to two and a half years, bears economic conditions which are competitive with the market benchmark and is secured by a parent company guarantee issued, at the request of Enel Green Power S.p.A,” said Enel in a statement.

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The company will use the new loan to partially cover investments for some wind farms in the Banat and Dobrogea regions of Romania.

Enel Green Power operates in Romania 498WM of wind capacities and another 36MW in solar installations.

Ovidiu Posirca