The European Bank for Reconstruction and Development (EBRD) will provide a senior loan of €49 million towards the construction, commissioning and operation of the 108MW Crucea North Wind Farm in the Black Sea region of Dobrogea.
Parallel to the Bank’s investment, Erste Group will contribute €49 million, 90 per cent of which will be covered by the Danish Export Credit Agency (EKF), while Banca Comercial? Român? (BCR) will provide a €27 million VAT-funding loan facility. Preliminary construction works on the 36-turbine wind park began late last year and are to be finalised by mid-2015. Crucea North Wind Farm is owned by a leading German power producer, STEAG GmbH. The total cost of the project is expected to be approximately €200 million.
