Enel Green Power borrows 200 mln euro from EIB for Romanian projects

Italy's Enel Green Power said on Monday it has entered a loan agreement with the European Investment Bank (EIB) for 200 million euro ($271.8 million) to partially cover investments in some wind farms in Romania.

The wind farms are located in the southeastern region of Dobrogea and western region of Banat, Enel Green Power said in a statement.

"The 15-year loan has a pre-repayment grace period of up to two and a half years, bears economic conditions which are competitive with the market benchmark and is secured by a parent company guarantee issued, at the request of Enel Green Power, by Enel S.p.A.," the company said.

This loan follows other funding agreements signed by the company with EIB in the last three years, worth 600 million euro, the statement added.

Enel Green Power invested a combined 251 million euro in wind plants in Romania last year. In December 2012, it connected to the grid three new wind farms with a total installed capacity of 206 MW. The parks, Elcomex EOL (Zephir I), Targusor(Zephir II) and Gebelesis, which are located in Dobrogea, are expected to generate about 560 million kilowatt-hours of energy each year.

Enel Green Power, the Enel Group unit in charge of the development and management of renewable energy sources at international level, has around 740 operational plants in 16 countries in Europe and the Americas.

($=0.7358 euro)

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