Copenhagen Infrastructure Partners (CIP) has completed financing for the 392 MW Pestera II wind farm in Romania, securing around €510 million from a consortium of seven international banks, marking one of the largest onshore wind financings in the region.
The project, located in Constanța County, is backed by a financing group that includes Erste Bank, Banca Comerciala Romana (BCR), Deutsche Bank, Société Générale, BRD, Eurobank, and Piraeus Bank, reflecting strong cross-border lender participation in Romania’s renewable energy sector.
Equity financing is being provided through CIP’s Growth Markets Fund II (GMF II), alongside participation from the European Investment Bank (EIB) and a Danish pension fund, highlighting the role of both institutional and development finance in scaling up regional wind capacity.
Construction of Pestera II is expected to be completed in phases, with commercial operation targeted for 2028. In late 2024, the project secured a 15-year Contract for Difference (CfD) for 245 MW of installed capacity, providing long-term revenue stability for a significant portion of its output.
Once completed, Pestera II will rank among the largest onshore wind developments in Romania, reinforcing the country’s position as a key emerging hub for large-scale renewable investment in South-East Europe.
The project is developed under CIP’s Growth Markets Fund II, which focuses on renewable energy and infrastructure investments across emerging markets, with Romania increasingly becoming one of its core European focus geographies.
