Enel Green Power, through its subsidiary Enel Green Power International (EGPI), signed an agreement with the Danish government’s Export Credit Agency (EKF) and Citigroup, to secure financing for wind projects in Romania.
Under the contract, EKF and Citigroup will provide a 12-year financing of EUR112m, guaranteed by Enel Green Power, that will be fully paid out by the end of October.
EGPI will use the financing to cover part of the investments required to construct and expand Enel Green Power Romania wind power plants, which are Moldova Noua and Corugea, so as to arrive at a total installed capacity of 118MW.
The company said the investments in Romania are expected to total EUR180m.
The partners also signed a master facilities agreement, setting out the general loan terms and conditions that will also apply to future operations between EGPI, EKF and Citigroup involving the use the Danish parts in other countries in which Enel Green Power operates.