Greenvolt Power has obtained a €348m ($410m) financing package to support the construction of the 253.1MW wind project in Ialomița County, south-eastern Romania.

The company, part of the Greenvolt Group, will build and commission the facility, with commercial operation scheduled for 2027.

A sale agreement signed with ENGIE Romania is set to be completed once the project reaches commercial operation.

The financing was arranged with a consortium of banks comprising BRD (Groupe Société Générale), Erste Group Bank, Raiffeisen Bank, Siemens Bank, Société Générale and UniCredit Bank.

The package also includes additional related facilities.

Greenvolt Group CEO João Manso Neto said: “A project of this scale and characteristics naturally requires significant capital and a strong financial structure, which we have once again secured from leading financial institutions.

“Their support clearly reflects confidence in our execution capabilities and in our ability to deliver.”

The Ialomița development forms part of the 506MW Wind Rose platform.

Within Romania, Greenvolt Group manages a utility-scale pipeline featuring 555MW of wind projects, 77MW of solar capacity and 156MW of battery energy storage.

The company also operates in distributed generation through Greenvolt Next, offering on-site renewable energy solutions to corporate and industrial customers.

Greenvolt Power Project Finance and M&A director Adrian Góralski said: “The collaboration with a group of leading financial institutions reinforces the strong confidence placed in Greenvolt Power and the strategic relevance of this project.

“This joint effort has resulted in the development of a financing structure that is fully aligned with the scale and technical complexity of the asset, while ensuring the efficient allocation of the capital needed to move forward with the construction of a landmark project for both Greenvolt and Romania.”