EDP Renovaveis executes project finance for 57 MW in Romania
Dec 12, 2012 - EDP Renovaveis (ELI:EDPR), the green energy arm of Portuguese power utility EDP (ELI:EDP), said yesterday that it had signed a project finance agreement for a 57 MW wind energy capacity in Romania.
The EUR-50-million (USD 65m) contract was inked with a consortium of banks led by the European Bank for Reconstruction and Development (EBRD), EDP Renovaveis added in a regulatory filing.
The company will receive the financing the following weeks. The money targets two wind farms in Romania -- 24-MW Vutcani and 33-MW Sarichioi.
These two farms boosted EDP Renovaveis' installed capacity in the eastern European country to 285 MW.
This is the third project finance agreement executed by EDP Renovaveis in Romania. The firm has already pocketed EUR 238 million with project finance deals.