EBRD considers a loan of EUR 96.6mln for a wind park in Tulcea

The European Bank for Reconstruction and Development (EBRD) explores the possibility to grant a syndicated loan of up to EUR 96.6mln to Land Power, controlled by Russia’s Lukoil and Italy’s ERG Renew, to build a wind farm of 84MW in Tulcea County. The 42 wind turbines of the project would be installed in the localities of Dorobantu, Topolog and Casimcea of Tulcea County, an EBRD communique reads. The total cost of the project is EUR 137.9mln. Land Power is a limited liability company registered in Romania, fully owned by Lukerg Renew GmbH, an Austrian company which develops renewable energy projects. Lukerg is a joint venture (equal stakes) of Lukoil-Ecoenergo, part of the Russian group Lukoil, and Italy’s ERG Renew. Lukerg Renew last year bought the project of 84MW from Italy’s Inergia. The company announced since late last year that it was under discussion with EBRD on financing for building the wind park.