BCR and Erste Group will serve as the sole lenders for the project, providing both financing and ancillary services, according to a press release from the Romanian bank.
Nala Renewables purchased the wind project from Sweden-based OX2. Construction of the wind farm, which will include 16 Vestas turbines, each with a capacity of 6.2 MW, is scheduled to begin in the third quarter of 2024. The wind farm is expected to be operational by the first half of 2026.
Once operational, the wind farm will produce approximately 312 GWh of green energy annually, enough to power around 51,000 households, while reducing CO2 equivalent emissions by approximately 150,000 tonnes each year.
Nala Renewables is a global platform focused on solar, wind, and battery storage projects across Europe, Latin America, and the United States. It is a joint venture between Singapore-based commodities group Trafigura and Australian infrastructure investment firm IFM Investors.
The company aims to develop a global portfolio of renewable energy projects with a total generation capacity of 4 GW by 2025.
In a recent move, Nala Renewables also signed an agreement to acquire a 61 MW photovoltaic project in western Romania from local energy company Monsson.
