Major Financing for Wind Farm Project
Banca Comercială Română SA (BCR) and Erste Group AG have partnered to finance a significant green asset acquisition in Romania, with Nala Renewables purchasing a 99.2 MW onshore wind project for EUR 214 million. Nala Renewables, a collaboration between Trafigura and IFM Net Zero Infrastructure Fund, acquired the project from Swedish firm OX2.
Commitment to Renewable Energy
BCR and Erste Group’s involvement underscores their commitment to advancing renewable energy in Romania. “BCR is a pivotal banking partner in Romania’s renewable energy sector,” stated Bogdan Cernescu, Head of Corporate Banking at BCR. Ingo Bleier, Chief Corporates and Markets Officer at Erste Group, emphasized the project’s alignment with Erste’s goal to support renewable energy transitions.
Project Details and Timeline
OX2 will manage the construction of the wind farm, set to begin in the third quarter of 2024, with plans for the farm to become operational in the first half of 2026. The project also includes a 12-year power purchase agreement (PPA) with a multinational corporation, covering a substantial portion of the electricity produced by the wind farm.
Source: romania-insider.com
