en.Wedoany.com Reported - Copenhagen Infrastructure Partners (CIP), through its Growth Markets Fund II (GMF II), has completed financing for the 392MW Pestera II onshore wind farm in Constanța County, Romania. The project secured approximately €510 million in financing, arranged by a syndicate of seven local and international commercial banks.

The lenders include Banca Comerciala Romana, BRD, Deutsche Bank, Erste Bank, Eurobank, Piraeus Bank, and Societe Generale. Equity is provided by the project owners, namely GMF II and two co-investors—the European Investment Bank and a Danish pension fund.

CIP Partner Radu Gruescu stated that completing the financing is a key milestone for the project and significant for Romania's renewable energy sector. Its scale clearly demonstrates that, through bankable regulatory frameworks such as the EU-backed Contracts for Difference (CfDs), Romania can attract the high-quality institutional capital needed to achieve its energy security and affordability goals.

In December 2024, the Pestera II project secured a 15-year CfD covering 245MW of its installed capacity. The project is expected to commence commercial operations in 2028, with major construction agreements already signed with Nordex and Electrogrup.

Nordex will supply 56 N163-6.X turbines, each with a capacity of 7MW, while Electrogrup will serve as the balance of plant engineering, procurement, and construction (EPC) contractor. Blue Power Partners has been appointed to provide construction management services.

Clifford Chance advised on the financing, while Filip & Company provided legal advice on the M&A transaction, CfD, and project development. Accura advised on the construction agreements. Aurora Energy Research served as commercial advisor, Environmental Resources Management as technical advisor, EY as financial and tax advisor, and Marsh as financing insurance advisor.

In April this year, CIP, through GMF II, announced the final notice to proceed for the 300MW/1.5GWh Patache project in Chile.

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