EUR 59mln loan from EBRD for a wind park in Galati

The European Bank for Reconstruction and Development (EBRD) could grant to Spain’s Inveravante Inversiones Universales a loan of EUR 59mln to build a wind farm in Galati. The total investment to build the wind park is estimated at EUR 84.2mln, according to EBRD data, quoted by Mediafax. The unit will have an installed power of 54MW. The project is developed by Spain’s Inveravante Inversiones Universales, through a “special purpose vehicle”, called Smardan SRL. The Spanish company is present, with wind energy, oil and gas production activities in over 20 countries. Romania has operational wind parks with a total installed power of over 2,100MW. Currently, renewable energy covers approximately 8% of the final energy consumption in Romania. Investments carried out in the construction of green energy production units exceed EUR 3bn, being made mainly by private companies.