Czech Power Group CEZ Borrows 262.35 Mln Euro To Finance Wind Project in Romania

Czech power group CEZ said on Thursday it has secured a 262.35 million euro ($370 million) loan to finance a wind power project in EU member Romania.

"The purpose of the loan is financing of export contract with a multinational supplier on German equipment during the construction of the Fantanele Wind Park project with installed capacity of 347.5 megawatts (MW) in Romania," CEZ said in a statement.

Bayerische Landesbank, BNP Paribas Bank, Ceskoslovenska Obchodni Bank and KBC Bank Deutschland are the mandated lead arrangers and lenders of the 15-year loan.

CEZ is developing two wind farms in Romania - in Fantanele and in Cogealac, both in the Dobrogea province, near the Black Sea. The farms will have a total capacity of 600 MW and are due to be completed in 2010. Total investment in the two projects is estimated to reach 1.1 billion euro.

($ = 0.7098 euro)

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