Erste Group Bank AG together with its Croatian unit Erste & Steiermaerkische
Bank has signed a deal to provide funds for the construction of the 72 million
euro ($90 million) Ogorje wind farm in Croatia, Erste Group Bank said on
Thursday.
The deal was signed with SN Holding/FEH, a Croatian investment
and development group, which has obtained a long-term loan of 47 million euro
from Erste Group Bank, Erste&Steiermaerkische Bank, and Splitska
Banka/Societe Generale, Erste Group Bank said in a statement.
The project
is sponsored by Akuo Energy, a French independent power producer in renewable
energy, and local renewable energy developers - FEH Ulaganja and their
partners.
The42 megawatt (MW) Ogorje wind power plant, located 25
kilometres northeast of the city of Split, will comprise 14 Vestas wind turbines
of 3.0 MW each.
The wind farm, expected to become operational towards the
end of 2015, will have installed capacity enough to supply around 30,000 of
households with sustainable electricity.
The financing for the project is
80% back-guaranteed by the Danish export credit agency, Eksport Kredit
Fonden.
Wind has the biggest share in Croatia's installed renewable
energy generation capacity with 297.3 MW as of September 1.