Copenhagen Infrastructure Companions secures CfD contract for onshore wind farm in Romania and welcomes the European Funding Financial institution as co-investor

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Following its profitable participation within the November 2024 CfD public sale, the Pestera II onshore wind venture in Romania is now within the ultimate phases prior to begin of development.

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COPENHAGEN, Denmark, March 13, 2025 (GLOBE NEWSWIRE) — At the moment, Copenhagen Infrastructure Companions (CIP) introduced that Radramo Energy SRL, the corporate holding the rights to the ~400MW Pestera II onshore wind venture, has entered right into a binding Contract for Distinction (CfD) for 245MW of its capability. Earlier in 2024, the Progress Markets Fund II (GMF II), a fund managed by CIP, agreed to amass the venture from its authentic builders topic to fulfilment of sure customary circumstances.

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Pestera II is likely one of the largest onshore wind initiatives in Romania with as much as 396MW put in capability and a complete funding of roughly EUR 500 million. The venture has been awarded the CfD contract following its profitable participation in Romania’s first CfD public sale in November 2024, the place it secured a contract with a length of as much as 15 years from COD at a strike worth of EUR 64.9/MWh. Situated in Constanta in Southeast Romania, and benefitting from robust wind useful resource and shut proximity to present transmission infrastructure, Pestera II can be one of many largest renewable power initiatives in Romania and is anticipated to considerably contribute to enhancing the safety of provide in Romania and ship attractively priced and sustainable energy for the long-term. The Romanian CfD scheme goals to ship 3GW of recent onshore wind and a pair of GW of recent photo voltaic capability throughout two auctions in 2024 and 2025. The scheme is supported with EUR 3 billion of devoted funding from the EU Modernisation Fund.

The European Funding Financial institution (EIB) has dedicated EUR 30 million of co-investment into the venture, alongside the capital that can be invested by EIB within the venture as a part of the group of traders which have dedicated capital to GMF II. The EIB has earlier in 2024 additionally introduced a dedication of USD 100 million to GMF II.

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Radu Gruescu, Accomplice in CIP, stated: “We’re happy to have participated efficiently within the first CfD public sale the place the Pestera II venture has secured a contract. The public sale has delivered a lot wanted investor confidence to draw the capital mandatory for the development of a really important quantity of recent renewable energy technology capability and we wish to commend the Ministry of Power, Transelectrica, and the opposite related stakeholders for making this attainable. We anticipate that Pestera II and the opposite initiatives contracted below the CfD scheme will ship long-term inexpensive energy that strengthens Romania’s power independence and helps the nation’s decarbonisation objectives. Having secured the CfD contract, we anticipate the Pestera II venture to begin development later this yr and, past that, we glance to broaden CIP’s presence in Romania’s power transition with additional investments.”

“The European Funding Financial institution is proud to assist Romania’s clear power transition by way of our EUR 30 million funding within the Pestera II onshore wind venture. This flagship initiative not solely enhances Romania’s renewable power capability but additionally contributes to the EU’s formidable local weather and sustainability aims. I commend Copenhagen Infrastructure Companions for his or her management in advancing this landmark renewable power venture, which strengthens power safety, fosters sustainable financial progress, and accelerates the inexperienced transition. Collectively, we reaffirm our unwavering dedication to a extra sustainable, resilient, and climate-neutral Europe,” stated EIB Vice-President Ioannis Tsakiris.

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About Copenhagen Infrastructure Companions
Based in 2012, Copenhagen Infrastructure Companions P/S (CIP) immediately is the world’s largest devoted fund supervisor inside greenfield renewable power investments and a worldwide chief in offshore wind. The funds managed by CIP concentrate on investments in offshore and onshore wind, photo voltaic PV, biomass and energy-from-waste, transmission and distribution, reserve capability, storage, superior bioenergy, and Energy-to-X.

CIP manages 12 funds and has thus far raised roughly EUR 32 billion for investments in power and related infrastructure from greater than 180 worldwide institutional traders. CIP has roughly 500 workers and 14 places of work world wide. For extra data, go to www.cip.com.

Concerning the European Funding Financial institution
The European Funding Financial institution (ElB) is the long-term lending establishment of the European Union, owned by its Member States. Constructed round eight core priorities, we finance investments that contribute to EU coverage aims by bolstering local weather motion and the setting, digitalisation and technological innovation, safety and defence, cohesion, agriculture and bioeconomy, social infrastructure, high-impact investments exterior the EU, and the Capital Markets Union.   

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The EIB Group, which additionally contains the European Funding Fund (EIF), signed practically EUR 89 billion in new financing for over 900 high-impact initiatives in 2024, boosting Europe’s competitiveness and safety.  

All initiatives financed by the EIB Group are according to the Paris Local weather Settlement, as pledged in our Local weather Financial institution Roadmap. Nearly 60% of the EIB Group’s annual financing helps initiatives instantly contributing to local weather change mitigation, adaptation, and a more healthy setting.   

Concerning the Modernisation Fund
The Modernisation Fund is a programme from the European Union to assist 13 Member States to fulfill power targets by serving to to modernise power methods and enhance power effectivity. The Modernisation Fund operates below the duty of the beneficiary Member States in shut cooperation with the European Fee and the European Funding Financial institution.

For additional data, please contact:
E-mail: media@cip.com

Oliver Routhe Skov, Head of Media Relations
Cellphone: +45 30541227
E mail: orsk@cip.com

Thomas Kønig, International Head of Fundraising and Accomplice – Investor Relations
Cellphone: +45 7070 5151
E mail: tkon@cip.com

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