EDP Renováveis executes project finance for 57 MW in Romania
Madrid, December 11th 2012: EDP Renováveis, S.A. (“EDPR”) has executed a project finance structure agreement with a consortium of banks led by the European Bank for Reconstruction and Development (“EBRD”) for 57 MW in Romania.
The long-term contracted debt facility amounts to €50 million and the transaction financial close is expected to occur over the coming weeks.
This transaction, for the already in operation Vutcani (24 MW) and Sarichioi (33 MW) wind farms, represents EDPR’s third project finance in Romania. With this agreement all the wind installed capacity by EDPR in Romania (285 MW) have now project financing
structures fully secured (€238 million).
The ability of EDPR to close project finance transactions in Eastern Europe provides strong evidence of the company’s competences in the development of top quality projects and in the establishment of financial structures meeting the requirements of partners with rigorous investment criteria and a strong focus on renewable energy development.