Nala Renewables has secured a €214 million financing package from Banca Comercială Română (BCR) and Erste Group for the acquisition and development of a 99.2 MW onshore wind project. This financing underscores the growing focus on renewable energy investments and the strategic role these projects play in the region’s energy landscape.

The wind farm, set to commence construction in the third quarter of 2024, will consist of 16 Vestas V162-6.2 MW wind turbines. Once operational in the first half of 2026, the facility is expected to produce approximately 312 GWh of electricity annually, sufficient to supply around 51,000 households. The project is also anticipated to reduce carbon emissions by approximately 150,000 tonnes per year.

This transaction is Nala’s third major investment in Central and Eastern Europe during the second quarter of 2024. The financing was arranged by BCR and Erste Group, with BCR also serving as the facility agent, security agent, and account bank.

“BCR is focused on supporting the transition to renewable energy. Our involvement in this project reflects our commitment to financing sustainable energy initiatives,” said Bogdan Cernescu, Head of Corporate Banking at BCR.

Ingo Bleier, Chief Corporates and Markets Officer at Erste Group, stated, “This project is a significant development in the region’s energy sector. Erste Group is committed to supporting projects that contribute to the transition to renewable energy.”

This financing agreement highlights the increasing confidence in renewable energy projects and reinforces the region’s role as a key player in the energy transition. The successful collaboration between BCR and Erste Group on this project sets the stage for future investments in the renewable sector.

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