EIB invests EUR 30 million for second onshore wind farm in Peștera

The European Investment Bank (EIB) will transfer up to EUR 30 million for a second onshore wind farm planned in Peștera, a village near the municipality of Constanța. The support co-finances the "Peștera II" project alongside funds managed by Copenhagen Infrastructure Partners. The site near Constanta is set to have a total installed capacity of up to 400 MW.

“The European Investment Bank (EIB) is committing up to €30 million for a major wind energy project in Romania, accelerating the country’s green transition and energy independence. The EIB support co-finances the second onshore wind farm planned in Peștera, a village near the municipality of Constanta on the Romanian Black Sea coast,” the bank announced.

The total value of the project is likely to exceed EUR 500 million. Peștera II, one of the largest wind energy initiatives in Romania, is set to have an installed capacity of up to around 400 megawatts (MW), enough to power over 1.4 million Romanian households for a year.

“We expect the Peștera project II to provide energy at affordable prices in the long term, strengthening Romania's energy independence and supporting the country's decarbonization objectives. Furthermore, we aim to expand CIP's presence in Romania's energy transition through other investments," said Radu Gruescu, partner at CIP.

Source: profit.ro