The European Bank for Reconstruction and Development (EBRD) has approved a loan of over €46 million to finance the construction and operation of a 102MW wind farm in Romania, part of a larger financing package totaling €93 million for the Urleasca wind farm.
The financing underscores the EBRD's commitment to supporting Romania's decarbonisation efforts through renewable energy initiatives.
Grzegorz Zielinski, Head of Energy Europe at EBRD, expressed enthusiasm about the bank's support for BIG MEGA Renewable Energy's inaugural renewable energy venture in the EBRD's region.
“The wind farm is expected to benefit from corporate power purchase agreements (PPAs) and boost Romania's increase in renewables capacity which is targeted to grow by adding 11.9GW over the coming years,” Zielinski stated.
Eran Davidi, CEO of BIG MEGA Renewable Energy, hailed the financial agreement for the Urleasca Wind Farm as a significant milestone in the company's strategic expansion in Romania and the Balkans.
“This project marks a major step on Romania's path to green energy transition and I'm sure it will pave the way for other projects in the future. We plan to be [an] essential part of this future,” Davidi emphasized.
He expressed gratitude for the collaboration with partners EBRD and OTP, underscoring their commitment to the project's success.
Urleasca Wind Farm, a Romanian company, is jointly owned by BIG Shopping Centers and MEGA OR, two Israeli companies specializing in the ownership and development of shopping malls listed on the Tel Aviv stock exchange.
