The EBRD is considering providing a loan to construct a 54 MW wind farm in the Galati county of Romania. The project will support Romania in increasing its renewable energy capacity to meet EU green energy targets.
The implementation of the project would give confidence to potential investors in wind generation and increase the amount of green electricity and certificates traded on OPCOM, which should assist liquidity and pricing signals.
This demonstration effect is expected to contribute to the development of a critical mass of renewable energy generation in Romania which will help to increase the share of renewable energy as a proportion of total electricity output to 38 per cent by 2020 (estimated to be 18 per cent when excluding large hydro) from a level of 5 per cent in 2012.
Furthermore, the project will strengthen the project finance market in a country that has historically relied to a large extent on corporate finance structures to develop power assets.
The project is controlled and developed by Inveravante Inversiones Universales, S.L. (