The investment will support the Peștera II project, located near the city of Constanța. This initiative is being co-financed alongside funds managed by Copenhagen Infrastructure Partners (CIP), a Danish investment firm specialising in renewable energy projects globally.
EIB Vice-President Ioannis Tsakiris said: “This flagship initiative not only enhances Romania's renewable-energy capacity but also contributes to the EU's ambitious climate and sustainability objectives.”
Radu Gruescu, Partner at CIP, added, “We expect that Peștera II will deliver long-term affordable power that strengthens Romania's energy independence and supports the country's decarbonisation goals. Beyond that, we look to expand CIP's presence in Romania's energy transition with further investments.”
The total investment in Peștera II is expected to exceed €500 million and have an installed capacity of up to 400 MW.
This project's capacity is substantial enough to supply over 1.4 million Romanian households with electricity for a year.
Construction of the wind farm is scheduled to start later this year.
CIP has raised around €32 billion from more than 160 institutional investors and manages a portfolio of clean-energy projects around the world.
