Greenvolt Power, a subsidiary of Greenvolt Group, has secured €284 million in project financing for its 253.1 MW wind farm in Gurbănești, east of Bucharest, Romania. The project is under construction and will comprise 42 turbines of 6.1 MW each. The group says it is expected to reach commercial operation by the end of 2027. Meanwhile, Europe's wind sector remains under scrutiny, as illustrated by the BWO's warning to the Bundestag about a risk of disruption to the offshore wind supply chain.

A syndicate of eight banks

The financing was structured with eight financial institutions. They are UniCredit S.p.A., Erste Group Bank AG, Banca Comercială Română S.A., Siemens Financial Services through Siemens Bank, Société Générale, BRD, ING Bank N.V. and Alpha Bank S.A.

According to Greenvolt, the project will add significant renewable generation capacity and contribute to the decarbonisation of Romania's power system. The company presents it as one of the largest wind projects in the country.

A 506 MW platform

The Gurbănești farm is part of the Wind Rose platform, which has a capacity of 506 MW. The group describes it as one of the country's most significant private renewable energy initiatives currently in progress. It also includes the Ialomița wind project, with a capacity of 253.1 MW.

Greenvolt says it holds a utility-scale pipeline in Romania of 707 MW of wind, 58 MW of solar and 209 MW of battery energy storage. The group is also active in distributed generation through Greenvolt Next, which provides on-site renewable energy solutions to corporate and industrial clients.

Executive statements

João Manso Neto, CEO of Greenvolt Group, says Romania is an important market where the group sees strong long-term potential. He adds that wind has been a particular focus, while noting a presence that spans several technologies and business segments.

Adrian Góralski, Director of M&A and Project Finance at Greenvolt Power, points to the strength of the company's relationships with financial partners. In his view, this financing shows the group's ability to find the right solutions for its projects.