EBRD to fund 50M euros to get two fresh wind parks built, in Romania

The European Bank for Reconstruction and Development (EBRD) continues to support Romania's strategy for renewable energy production, and grants a loan worth 50 million euros to fund the building of two new wind parks at Vutcani (east) (24MW) and at Sarichioi (east) (33 MW), press release informs

EBRD, on Wednesday, announced it is to grant a 50 million-euro loan to VS Wind Farm SA, whose main shareholder is the Portuguese EDP Renováveis. This is the third investment agreement that EBRD and EDPR signed on renewable energy production in Romania, after the former had funded the Wind Park in Cernavoda (south-east) (138 MW) and that at Pestera (south-east) (90 MW), in 2011.

'We are happy to finance the third EDPR project in Romania, and the first wind park in Moldavia (at Vutcani). EBRD will continue supporting the renewable energy projects in Romania,' EBRD energy department director Nandita Parshad said.

EBRD owned by 63 countries and two inter-governmental institutions backs up the development of the market economy and the democracy. Since the very beginning of its operations in Romania, the Bank invested about six billion euros in over 315 projects, in the financial the corporative, infrastructure and energy fields, and it mobilized almost 11 billion- euro additional investments.