Electrica to borrow EUR 55mln for a wind park

Electrica SA plans to secure a loan of maximum EUR 55mln. According to data published on the Electronic System for Public Procurement, the money is needed to finance the Frumusita wind farm. The loan will be repaid within 12 years and the deadline for submitting bids is June 26^th. With an installed power of around 45MW (consisting of 15 wind turbines), stretching over an area of over 70 hectarea, the Frumusita wind park will provide a production of 150,000MWh per year. The park is a project included in the energy development strategy of the electricity supply and distribution company. The actual development started in 2010, the project obtaining in the second half of 2011 all the necessary permits to commission it. Electrica plans to achieve around 375MW from renewable energy sources to meet the demand of green certificates from own sources. 150MW will come from wind energy, 200MW – from biomass and 25MW from hydro energy.