Copenhagen Infrastructure Partners (CIP) has completed financing for the 392 MW Pestera II wind farm in Romania, securing around €510 million from a consortium of seven international banks. The transaction is described as one of the largest onshore wind financings in the region.
Banking consortium and project location
The project is located in Constanța County. The financing group includes Erste Bank, Banca Comerciala Romana (BCR), Deutsche Bank, Société Générale, BRD, Eurobank, and Piraeus Bank. The lender participation reflects cross-border involvement in Romania’s renewable energy sector.
Equity structure and development finance participation
Equity funding is provided through CIP’s Growth Markets Fund II (GMF II). Additional participation comes from the European Investment Bank (EIB) and a Danish pension fund. The structure combines institutional and development finance for scaling up regional wind capacity.
Construction timeline and CfD coverage
Construction of Pestera II is expected to be delivered in phases, with commercial operation targeted for 2028. In late 2024, the project secured a 15-year Contract for Difference (CfD) covering 245 MW of installed capacity. The CfD is intended to provide long-term revenue stability for a portion of the project’s output.
Role within CIP’s Growth Markets Fund II focus
Pestera II is developed under CIP’s Growth Markets Fund II, which targets renewable energy and infrastructure investments across emerging markets. Romania is increasingly positioned as one of CIP’s core European focus geographies within that strategy.
