The European Bank for Reconstruction and Development (EBRD) has approved a loan of up to 90 million euros for Engie Romania, a subsidiary of the French energy giant Engie, to refinance its acquisition of an operational wind farm.

This financing will indirectly support Engie Romania’s purchase of the Chirnogeni wind farm, located in Constanta County, which has a capacity of 80 MW. The refinancing will free up significant capital, allowing Engie Romania to further invest in the development of new wind and solar energy projects.

Engie Romania completed the acquisition of the Chirnogeni wind farm from Czech investment firm EnerCap Group in May.

The EBRD loan is part of a larger financing strategy aimed at supporting Engie Romania’s decarbonization efforts. The company is committed to achieving 1 GW of renewable energy capacity in Romania by 2030. Currently, Engie Romania operates a renewable energy portfolio of 122 MW.