Copenhagen Infrastructure Partners (CIP), through its Growth Markets Fund II (GMF II), has announced financial close for the 392-megawatt Pestera II onshore wind project in Constanța County, Romania. The project represents one of the largest investments in new renewable energy infrastructure in Romania and one of the largest project finance transactions in Central and Eastern Europe.
The Pestera II project concluded a 15-year contract for difference (CfD) for 245 megawatts of its capacity in December 2024. The project is expected to reach commercial operations in 2028 and will contribute significantly to enhancing Romania’s security of supply while delivering competitively priced renewable power for the long term.
The Pestera II project finance comprises facilities of approximately €510 million ($580 million) provided by a consortium of seven local and international commercial banks: Erste Bank and Banca Comerciala Romana, Deutsche Bank, Societe Generale and BRD,
