EDP RenovAfA¡veis secured EUR 188 mln financing for 228MW wind farm project in Romania

Newsroom 05/08/2011 | 12:29

EDP Renováveis, part of the Portuguese energy EDP Group, has secured financing with a consortium of banks led by EBRD (European Bank for Reconstruction) and the IFC (member of the World Bank Group), for the 90 MW Pestera wind farm in Romania. The long-term contracted debt facility amounts to EUR 73 million and the transaction financial close in expected on the third quarter of 2011. Prior to this agreement, EDPR contracted another EUR 115 million with the same banking consortium for wind farm installments of 138 MW.

The total 228 MW of EDPR’s wind installed capacity in Romania have now EUR 188 million project financing fully secured. EDPR already owns a 69 MW wind farm in Romania, Cernavoda I which is currently in full operation, while the 69MW Cernavoda II wind farm is currently under commision.

The EDP Group is Portugal’s largest industrial group and one of Europe’s main energy companies and the main shareholder of EDP Renováveis. It is currently the Iberian Peninsula’s third largest energy operator, holding business interests in the generation, distribution and supply of electricity and gas in Portugal and in Spain. EDP Renováveis reported a net profit of EUR 80 million for 2010 and the installed capacity of wind farms generated 6,676 MW in 2010.