The European Investment Bank (EIB) is allocating up to 30 million euros to support a major wind energy project in Romania, reinforcing the country’s transition to renewable energy and bolstering its energy independence. This investment will help develop a second onshore wind farm in Pestera, a village located near Constanta on Romania’s Black Sea coast.
The Pestera II project is a collaborative effort involving funds managed by Copenhagen Infrastructure Partners (CIP), a Danish investment firm specializing in global renewable energy projects. The total cost of the wind farm is expected to exceed 500 million euros.
As one of Romania’s largest onshore wind projects, Pestera II will have an installed capacity of around 400 MW, providing electricity to over 1.4 million Romanian households annually. Construction is scheduled to begin later this year, helping Romania and the European Union reach their goal of climate neutrality by mid-century.
EIB Vice-President Ioannis Tsakiris highlighted that the 30 million euros investment is part of the bank’s ongoing commitment to Romania’s clean energy transition. This project not only boosts the country’s renewable energy capacity but also contributes to the EU’s ambitious climate goals, enhances energy security, and fosters sustainable economic growth.
CIP is the world’s largest fund manager dedicated to greenfield renewable energy projects, focusing on offshore and onshore wind, solar, biomass, and other sustainable energy sources. With approximately 32 billion euros raised from over 160 institutional investors, CIP manages a global portfolio of transformative clean energy initiatives.
