CIP closes financing for 392MW Pestera II wind farm

Copenhagen Infrastructure Partners (CIP), via its Growth Markets Fund II (GMF II), has reached fiscal adjacent for the 392MW Pestera II onshore upwind workplace successful Constanța County, Romania.

The task has secured financing of astir €510m, arranged by a syndicate of 7 section and planetary commercialized banks.

The lenders are Banca Comerciala Romana, BRD, Deutsche Bank, Erste Bank, Eurobank, Piraeus Bank and Société Générale.

The equity is being provided by the project's owners, which are GMF II and 2 co-investors, the European Investment Bank and a Danish pension fund.

CIP spouse Radu Gruescu said: "We are pleased that Pestera II has reached fiscal close, a captious milestone for the task and important for the renewable vigor assemblage successful Romania.

"The size of the transaction is simply a wide objection that, done bankable regulatory frameworks specified arsenic EU-supported contracts for quality [CfDs], Romania tin pull the high-quality organization superior indispensable to present the country's objectives of achieving vigor information and affordability."

In December 2024, the Pestera II task secured a 15-year CfD covering 245MW of its capacity.

The Pestera II task is expected to statesman commercialized operations successful 2028. It has signed its main operation agreements with Nordex and Electrogrup.

Nordex volition proviso 56 N163-6.X turbines, each with a capableness of 7MW, portion Electrogrup volition enactment arsenic the equilibrium of works contractor.

Blue Power Partners has been appointed to present operation absorption services.

Clifford Chance advised connected the financing, portion Filip & Company provided counsel connected the mergers and acquisitions transaction, the CfD and the project's development. Accura advised connected the operation agreements.

Aurora Energy Research acted arsenic the commercialized adviser, Environmental Resources Management arsenic the method adviser, EY arsenic the fiscal and taxation adviser, and Marsh arsenic the security advisor for the financing.

In April this year, CIP, via GMF II, announced the last announcement to proceed for the 300MW/1.5GWh Patache task successful Chile.

"CIP closes financing for 392MW Pestera II upwind farm" was primitively created and published by Power Technology, a GlobalData owned brand.