Copenhagen Infrastructure Partners reaches financial close on Pestera II onshore wind farm in Romania

§ 01 Executive Snapshot

• What: Copenhagen Infrastructure Partners (CIP) reaches financial close on the 392 MW Pestera II onshore wind farm in Romania.
• Who: Copenhagen Infrastructure Partners, Growth Markets Fund II, European Investment Bank, Danish pension fund, various commercial banks.
• Why it matters: The project represents a significant investment in renewable energy infrastructure in Romania and is a key step towards enhancing energy security and affordability in the region.

§ 02 Key Developments

• The Pestera II project has a total capacity of 392 MW and concluded a 15-year contract for difference (CfD) for 245 MW of its capacity in December 2024.
• The project finance comprises approximately EUR 510 million provided by a consortium of seven local and international commercial banks.
• The main construction contracts have been awarded to Nordex for turbine supply and Electrogrup for balance of plant contracting.

§ 03 Strategic Context

• The Pestera II project is one of the largest project finance transactions in Central and Eastern Europe, highlighting the region's potential for renewable energy investment.
• CIP's Growth Markets Fund II aims to combine large-scale investments in energy infrastructure with attractive returns, reflecting a growing trend in institutional capital for renewable energy.

§ 04 Strategic Implications

• The successful financial close of Pestera II signals strong investor confidence in Romania's regulatory frameworks and renewable energy market.
• Long-term, this project is expected to contribute to Romania's energy security and provide competitively priced renewable power, which may attract further investments in the sector.

§ 05 Risks & Constraints

• Potential regulatory or execution roadblocks could arise during the construction and operational phases of the project.
• Competition for renewable energy investments in the region could impact future funding and project viability.

§ 06 Watchlist / Forward Signals

• The project is expected to reach commercial operations by 2028, marking a key milestone for Romania's energy infrastructure.
• Future investments and project expansions in Romania and Central and Eastern Europe will signal the ongoing success of CIP's strategy in the region.