The European Bank for Reconstruction and Development (BERD) announced it will provide Romania with a loan worth EUR 57 million (USD 78 million) to fund its eighth wind power project in the country. LUKERG Renew, a 50-50 joint venture headed by Italy-based ERG Renew and LUKOIL-Ecoenergo in Russia, is responsible for the wind farm’s development, Penn Energy reports.
The Topolog-Dorobanțu wind farm will be located in southeast Romania’s Dorobanțu, Topolog and Casimcea municipalities. The wind farm is capable of generating 84 megawatts with 42 wind turbines producing 2 MW each.
“Romania has large potential in renewable energy,” EBRD Senior Banker Louis Borgo said in a statement. “We are happy to have been able to provide much-needed long-term financing to projects that help the country generate clean energy and support transition to a low-carbon economy.”
The bank previously gave a EUR 49 million (USD 67 million) loan in March to build the 108 MW Crucea North Wind Farm in Dobrogea.