EDP RENOVÁVEIS EXECUTES PROJECT FINANCE FOR 138 MW IN ROMANIA | EDP Renováveis

EDP Renováveis, S.A. ("EDPR") has executed a project finance structure agreement with a consortium of banks led by the European Bank for Reconstruction and Development ("EBRD") and the IFC, a member of the World Bank Group, for 138 MW in Romania.

The long-term contracted debt facility amounts to €115 million and the transaction financial close is expected to occur in the third quarter of 2011.

Cernavoda I (69 MW) was the first wind farm installed by EDPR in Romania, being currently in full operation, while the Cernavoda II wind farm (69 MW) is currently under commissioning.

This transaction provides strong evidence of EDPR competences in the development of top quality projects and financial structures meeting the requirements of partners with rigorous investment criteria and a strong focus on renewable energy development.