Copenhagen Infrastructure Partners (CIP) has secured a contract for difference (CfD) for 245MW of output from the Pestera 2 onshore wind project in Romania. The agreement was made with Radramo Power SRL, the company holding the rights to the 400MW wind project.
The deal follows CIP's earlier 2024 acquisition of Pestera 2 from its original developers, subject to customary conditions. The project, located in Constanta, southeast Romania, is one of the largest onshore wind developments in the country, with a total installed capacity of up to 396MW and an estimated investment of €500 million.
Pestera 2 won the CfD contract after successfully participating in Romania's first CfD auction in November 2024. The contract has a duration of up to 15 years, with a strike price of €64.9/MWh. The wind farm will benefit from Romania's favorable wind conditions and its proximity to existing transmission infrastructure, helping to enhance the country's energy security while providing long-term, affordable, and sustainable power.
The Romanian CfD scheme is backed by €3 billion from the EU Modernisation Fund. The European Investment Bank (EIB) has also committed €30 million to the project, alongside its earlier commitment of $100 million to CIP's Growth Markets Fund 2 (GMF 2), which will support the development of Pestera 2.
Radu Gruescu, a partner at CIP, remarked, “The auction has delivered much needed investor confidence to attract the capital necessary for the construction of a very significant volume of new renewable power generation capacity and we would like to commend the Ministry of Energy, Transelectrica, and the other relevant stakeholders for making this possible.”
He added, “Having secured the CfD contract, we expect the Pestera II project to commence construction later this year and, beyond that, we look to expand CIP's presence in Romania's energy transition with further investments.”
EIB Vice-President Ioannis Tsakiris also expressed support, stating, “The European Investment Bank is proud to support Romania's clean energy transition through our EUR 30 million investment in the Pestera II onshore wind project. I commend Copenhagen Infrastructure Partners for their leadership in advancing this landmark renewable energy project, which strengthens energy security, fosters sustainable economic growth, and accelerates the green transition.”
