The European Investment Bank (EIB) has pledged up to EUR 30 million to support the development of one of Romania\u2019s largest onshore wind farms, Pestera II, near the city of Constanta on the Black Sea coast. The investment will co-finance the project alongside funds managed by Copenhagen Infrastructure Partners (CIP), a Danish firm specializing in renewable-energy projects.<\/p>\n
With a planned capacity of up to 400 megawatts, Pestera II is expected to supply clean energy to over 1.4 million Romanian households annually. The total investment in the project is estimated to exceed EUR 500 million, with construction set to begin later this year.<\/p>\n
\u201cThis flagship initiative not only enhances Romania\u2019s renewable-energy capacity but also contributes to the EU\u2019s ambitious climate and sustainability objectives,\u201d said EIB Vice-President Ioannis Tsakiris.\u00a0<\/p>\n
\u201cWe expect that Pestera II will deliver long-term affordable power that strengthens Romania\u2019s energy independence and supports the country\u2019s decarbonisation goals,\u201d stated, in turn, CIP partner\u00a0Radu Gruescu \u201cBeyond that, we look to expand CIP\u2019s presence in Romania\u2019s energy transition with further investments.\u201d<\/p>\n
CIP is the world\u2019s largest fund manager dedicated to greenfield renewable-energy investments, with expertise in wind, solar, and biomass projects. The firm has raised approximately EUR 32 billion from over 160 institutional investors and manages a portfolio of clean-energy initiatives worldwide.<\/p>\n
The EIB is the long-term lending institution of the European Union, owned by its Member States.\u00a0The EIB Group, which also includes the\u00a0European Investment Fund (EIF), signed nearly EUR 89\u00a0billion in new financing for over 900\u00a0high-impact projects\u00a0in 2024.<\/p>\n
irina.marica@romania-insider.com<\/p>\n