April 23 (SeeNews) - Danish renewable energy company Eurowind Energy has secured a 65.3 million euro ($69.6 million) credit facility for the construction of a 48 MW wind farm in Romania, said Banca Comerciala Romana (BCR), the Romanian unit of Austria's Erste Group [BSE:EBS].
The loan was jointly provided by BCR and its parent compny, with each contributing 32.66 million euro, the Romanian lender said in a press release on Monday.
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The credit facility will reach maturity by the end of 2040 and covers 70% of the total investment required for the project, which amounts to 93 million euro.
The wind farm is being developed in the southeastern commune of Pecineaga, Constanta county, and is scheduled to become operational in the first quarter of 2025. It will produce almost 176,000 MWh per year, supplying up to 48,000 households with green energy.
"Our Pecineaga wind farm is our first construction project in the new wave of renewables in Romania," said Adrian Dobre, Romania country manager at Eurowind Energy.
Headquartered in Hobro, Denmark, the Eurowind Group employs over 570 people in fifteen European countries and the U.S. Part of Eurowind Group, Eurowind Energy entered the Romanian market in 2011.
BCR's preliminary net profit climbed 33% to 2.321 billion lei ($496.9 million/466.4 million euro) in 2023. BCR Group comprises lenders Banca Comerciala Romana and BCR Banca pentru Locuinte as well as BCR Pensii, BCR Leasing IFN and BCR Chisinau.
Erste Group's shares traded 0.28% higher at 216 lei as at 0947 CET on Tuesday on the Bucharest bourse.
(1 euro=4.9758 lei)
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