EBRD, Erste, ING, Unicredit Finance Wind Project in Romania

The European Bank for Reconstruction and Development and three commercial banks will provide 91 million euros ($116 million) for a wind farm project in Romania, the London-based EBRD said.

The EBRD will lend 31 million euros for the 80 megawatt wind project, located in the Dobrogea region, near the Black Sea, according to a statement from the bank today. Erste Group Bank AG (EBS), ING Groep NV (INGA) and UniCredit Bank Austria AG will lend a combined 60 million euros.

Marguerite Fund, a Luxemburg-based equity fund, will purchase a 50 percent stake in the project, while EnerCap Power Fund will acquire another 30 percent stake, according to the statement. EP Global Energy, the project’s developer, will retain a 20 percent holding in the wind farm.

The total cost of the project is estimated at 130 million euros, the EBRD said.

To contact the reporter on this story: Andra Timu in Bucharest at atimu@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net