Bank Offers Loan For Wind Farm
News: The European Bank for Reconstruction and Development (EBRD) will provide a EUR49mn (US$67.4mn) loan for the construction of a Crucea North wind farm in Dobrogea, Romania. Austria-based Erste Group will also provide EUR49mn (US$67.4mn) for the 108MW project, while Erste's Romanian subsidiary Banca Comerciala Romana will contribute a EUR27mn (US$37.14mn) VAT funding loan facility. The wind farm, which has an estimated value of EUR200mn (US$275.1mn), will comprise 36 turbines. The project's construction began in late 2013 and is expected to be completed by mid-2015.