Green Forum • 16 December, 2024 at 8:12 AM
The European Bank for Reconstruction and Development (EBRD) has approved a €90 million loan for Engie Romania, part of France's Engie Group, to refinance the acquisition of an operational wind farm.
The loan will support the refinancing of Engie Romania's recent acquisition of an 80 MW wind park in Chirnogeni, Constanța County. According to the EBRD, this move will free up significant capital for Engie Romania to invest in greenfield wind and solar projects, contributing to its ambitious decarbonisation plan.
Engie Romania finalized the acquisition of the Chirnogeni wind park from the Czech investment firm EnerCap Group in May.
This loan is part of a broader financing package aimed at helping Engie Romania achieve 1 GW of renewable energy capacity by 2030. The EBRD noted that the financing will enable Engie to develop approximately 250 MW of greenfield renewable capacity by the end of 2028.
Globally, the Engie Group employs over 97,000 people and operates in natural gas, electricity, and energy services. In Romania, Engie currently has a renewable energy capacity of 122 MW.