CEZ takes out 260m-euro loan for Europe's largest wind farm in Dobrogea

Czech energy group CEZ, which is building the largest onshore wind farm in Europe in Dobrogea (SE Romania), has managed to take out a 262.3 million-euro loan from commercial banks to finance the first part of the project. "On June 30th, 2009, the CEZ group signed an agreement for a loan guaranteed by German Export Credit Agency Hermes. The coordinators and the banks that granted the loan are Bayerische Landesbank, BNP Paribas Bank N.V., Ceskoslovenská obchodní banka, a.s., and KBC Bank Deutschland AG. BNP Paribas acts as structural and coordinating bank, and Bayerische Landesbank as agent," specify representatives of the group. The money will be used to acquire the equipment necessary for the Fantanele project, while the other commune where CEZ intends to set up wind turbines is Cogealac. The overall project will have a 600 MW-capacity, of which 347.5 MW in Fantanele, and the rest in Cogealac.