BCR and Erste finance EUR 214 mln green asset acquisition of Nala Renewables in Romania
<p>Banca Comercială Română SA and Erste Group AG announced they are financing the EUR 214 million wind farm acquisition by which Nala Renewables, a joint venture between independent commodity trading company Trafigura and IFM Net Zero Infrastructure Fund, takes over a 99.2 MW onshore wind project in Romania from Swedish company OX2.</p>

<p>"BCR plays an active role in promoting the transition to a green economy, and we are recognized as the main banking partner of renewable energy sources in Romania," said Bogdan Cernescu, Head of Corporate Banking BCR.</p>

<p>"Erste Group is committed to supporting the transition to renewable energy sources, with this project being a major step towards this goal," added Ingo Bleier, Chief Corporates and Markets Officer of Erste Group.</p>

<p>OX2 will be responsible for the construction of the wind farm.</p>

<p>Construction will start in the third quarter of 2024, while commissioning is planned for the first half of 2026.</p>

<p>The deal includes a 12-year PPA (power purchase agreement) with a multinational corporate offtaker. The agreement covers a significant part of the electricity output generated by the wind farm.</p>

<p><em>iulian@romania-insider.com</em></p>

<p><em>(Photo source: <a href="https://www.dreamstime.com" rel="noopener" target="_blank">Ivan Kruk/Dreamstime.com</a>)</em></p>