Romania: A loan for Hidroelectrica provided by EBRD

, SEE Energy News

Hidroelectrica’s five-year investment plan includes over 1 billion euros for new wind and solar project with combined capacity of 665 MW.

Romanian BRD Groupe Societe Generale said that it has provided 254 million euros loan to electricity producer Hidroelectrica in order to finance wind and solar projects. The statement from the bank said that the loan was granted for a period of seven years and Hidroelectrica will use it for acquisitions and direct investments in operational projects based on wind and solar energy.

Hidroelectrica CEO Bogdan Badea said that Romania has a huge potential for development in the renewable energy sector, and the company is willing and able to attract resources needed to move in this direction. According to him, Hidroelectrica is considering all opportunities in order to diversify production and remain a 100 % green company. In February, Hidroelectrica acquired STEAG Energie Romania, the operator of 108 MW Crucea wind farm commissioned in 2014. It is currently considering the acquisition of 131 solar project from Portland Trust in Arges county.