EBRD lends over 46 million Euro for 102 MW onshore wind farm in Romania

The European Bank for Reconstruction and Development (EBRD) is lending over 46 million Euro as part of a 93 million Euro financing package to build and operate a 102 MW onshore wind farm in Romania. Urleasca Wind Farm, which will be part of Romania’s energy transition, is expected to generate 277 GWh a year of renewable energy and save about 115,000 tonnes of carbon dioxide emissions annually.   

The EBRD’s Grzegorz Zielinski, Head of Energy Europe, said: “We are excited to support BIG MEGA Renewable Energy’s first renewable energy project in the EBRD’s region. The wind farm is expected to benefit from corporate Power Purchase Agreements and boost Romania’s increase in renewables capacity which is targeted to grow by adding 11.9 GW over the coming years.” 

Eran Davidi, CEO of BIG MEGA Renewable Energy, said: “The signing of the financial agreement for Urleasca Wind Farm is a great milestone and part of a far-reaching strategic move by BIG Mega Renewable Energy to grow its activity 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 essential part of this future.”  

In 2023, Romania committed to increase the share of renewables in its total energy consumption from 24.3 per cent in 2019 to a more ambitious 36.2 per cent by 2030, by adding 11.9 GW of new renewable capacity. 

Urleasca Wind Farm SRL, a Romanian company, is ultimately equally co-owned by BIG Shopping Centers ltd and MEGA OR ltd, two Israeli companies that own and develop shopping malls and are listed on the Tel Aviv stock exchange.