ÈEZ signs loan worth EUR 200m with EIB for energy plant in Romania

Czech energy firm CEZ Friday signed a loan contract with the European Investment Bank (EIB) for EUR200m (around Kc5.04bn) to finance the construction of the Fantanele wind farm in Romania.

It is a loan with a 17-year maturity, CEZ said. The Fantanele wind farm should consist of 240 wind turbines with a total capacity of 600 megawatts (MW), which is twice as much as the installed output of the largest European wind farm in Scotland’s Whitelee.

CEZ expects wind power Fantanele, together with large hydroelectric power plants, to produce 10 percent of electricity from renewable sources in Romania.

In the first phase of the Fantanele wind power project, a total of 139 wind turbines with the installed output of 347 MW will gradually be put into operation.

Most of these wind power plants have already been installed. Another 101 wind turbines are to be launched in about a year in the second phase of the Cogealac project. However, CEZ has recently halted works on this project due to a dispute over building permits with local authorities.