Gura Văii financing and project parameters
OMV Petrom and Renovatio have secured €47 million of investment debt from Banca Comercială Română for the Gura Văii wind farm in Bacău County. The transaction moves one component of their Electrocentrale Borzești portfolio from development into financed construction.
The wind farm has approximately 50 MW of capacity, with all necessary permits in place. Forecast annual net generation is 110 GWh, implying a capacity factor near 25 per cent. The lender’s base case uses a relatively conservative wind resource assumption.
The loan covers at least 60 per cent of project cost. When the term loan, VAT facility and debt-service reserve arrangements are included, BCR’s wider exposure can reach €61.6 million. OMV Petrom and Renovatio each hold 50 per cent ownership of Electrocentrale Borzești.
Role within Electrocentrale Borzești wind pipeline
Gura Văii is part of an approximately 300 MW group of wind projects that reached final investment decision in April. The wider portfolio includes the 100 MW Podu Turcului and 155 MW Poiana projects. A separate 657 MW Galați development has not yet reached FID.
Production from the construction-stage portfolio is expected to start progressively from the first half of 2027. The financing package includes named sponsors, permits, a quantified generation forecast and committed equity, alongside a domestic bank prepared to provide construction debt.
The transaction is described as separating credible Romanian renewables from a larger speculative pipeline. Many projects with preliminary grid approvals still lack several elements such as permits, quantified generation forecasts and committed equity.
Loan size, implied capex and OMV Petrom targets
At €47 million for 50 MW, the investment loan equals approximately €940,000 per megawatt. If debt covered exactly 60 per cent of total cost, implied project capital expenditure would be around €78 million, or about €1.56 million per megawatt. The final capital intensity may be lower because the loan covers at least 60 per cent rather than precisely that share.
OMV Petrom aims to exceed 2.5 GW of renewable capacity by 2030 with partners. It has about 70 MW operating and 1.5 GW in development. The Gura Văii deal reflects use of joint ventures and project debt to expand without placing every euro of construction expenditure directly on its own balance sheet.
