EDP Renováveis executes project finance for 50 MW in Romania
EDP Renováveis, S.A. (“EDPR”) has executed a project finance structure agreement with the European Bank for Reconstruction and Development (“EBRD”) and the Black Sea Trade Development Bank (“BSTDB”) for the 50 MW of solar power plants in operation in Romania.
The long-term contracted debt facility amounts to €30 million and the transaction financial close is expected to occur until the end of July 2014.
This new agreement is EDPR’s seventh project finance in Eastern Europe (total of €505 million) providing strong evidence of the company’s competences in the development of top quality projects and in the establishment of solid financial structures meeting the requirements of partners with rigorous investment criteria and a strong focus on renewable energy development and on foster economic growth.
EDP Renováveis, S.A.