Low Carbon, Rezolv Energy secure finance for Romanian wind farm

OTP Bank Nyrt.

13/06/2024 12:16

LONDON, June 13 (Reuters) - Renewable energy producer
Rezolv Energy and British clean power investment firm Low Carbon
have secured loan facilities of up to 291 million euros ($314
million) to finance the construction of an onshore wind farm in
Romania.
    The consortium of lenders included Erste Group, UniCredit
Group, the European Bank for Reconstruction and Development, as
well as the International Finance Corporation, Intesa Sanpaolo
Group, OTP Bank, Raiffeisen Bank International AG and Garanti
BBVA Romania.
    The first phase of the so-called VIFOR project in north-east
Bucharest will install 192 megawatts (MW) of capacity and should
come online before the end of 2025. 
    A second phase will expand the capacity to 461 MW, Low
Carbon said.
    When fully operational, the wind farm will be able to
generate enough electricity to power more than 270,000 homes.
    Rezolv Energy was launched 18 months ago by investor Actis
to build onshore wind and solar parks in central and
south-eastern Europe. Rezolv currently has over 2 gigawatts of
clean energy being prepared for construction in south-eastern
Europe.
    ($1 = 0.9253 euros)

 (Reporting by Nina Chestney
Editing by Mark Potter)
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