EBRD Grants €46 Million Loan for 102 MW Wind Farm in Brăila, Romania

The European Bank for Reconstruction and Development (EBRD) is providing a loan exceeding €46 million as part of a €93 million financing package for the construction and operation of a 102-megawatt onshore wind farm in Urleasca, Brăila County, Romania. The project, expected to generate 277 gigawatts of renewable energy annually, will also reduce carbon dioxide emissions by approximately 115,000 tons per year.

"The wind farm is anticipated to benefit from directly negotiated bilateral energy purchase contracts and boost Romania's renewable energy capacity, which is set to increase by another 11.9 gigawatts in the coming years," said Grzegorz Zielinski, EBRD's Director of Energy Europe, according to Ziarul Financiar.

Urleasca Wind Farm, the project company for the wind farm, is owned by BIG Energia Holdings (Hungary), a division of Israel's BIG Shopping Centers. BIG Shopping Centers holds over 67% of AFI Properties Ltd, which includes AFI Cotroceni and AFI Brașov in its portfolio.

"The signing of the financial agreement for the Urleasca Wind Farm is a significant milestone and part of a strategic move by BIG Mega Renewable Energy to expand its operations in Romania and the Balkans. This project is a major step in Romania's transition to green energy and is likely to pave the way for future projects. We plan to be an essential part of this future," added Eran Davidi, CEO of BIG MEGA Renewable Energy.

In 2023, Romania committed to increasing the share of renewable sources in total energy consumption from 24.3% in 2019 to an ambitious 36.2% by 2030, adding 11.9 gigawatts of renewable production capacity.

Source: Adevarul.ro