BCR OKs EUR 23 mln to Martifer for a 42 MW wind farm

Newsroom 27/04/2011 | 12:00

Banca Comerciala Romana (BCR) announced that has inked a financing agreement worth EUR 23 million with industrial company Martifer in order to develop a 42 MW wind power plant South-Eastern Romania. The BCR was assisted by DLA Piper while for Martifer legal consultant was Bulboaca si Asociatii law firm.

“Renewable energy has a great potential and we are interested to finance it. Romanian can become regional leader in this sector,” said Wolfgang Schoiswohl, corporate VP at BCR.

According to a research report conducted by Erste Bank, one of Romania’s wind energy potential is highest in South-Eastern Europe, estimated at 14,000 MW installed capacity, equivalent to a total production of 23 TWh.

Specialized studies position Moldova and Dobrogea regions among the most suitable for wind farm development.

According to the European Wind Energy Association, in 2010 Romania was with the current production of 437 MW in top 10 countries in terms of annual installed wind energy capacity.