02.07.2026

Erste Group supports Romanian windfarm project Pestera II

The onshore wind farm Peștera II will have an installed capacity of 392 MW, making it one of the largest wind farms ever built in Romania.
The project is developed by Copenhagen Infrastructure Partners (CIP), a leading global investor in energy infrastructure.
The financing was co-arranged by Erste Group Bank AG, acting as Senior Lender and Hedging Bank, together with Banca Comercială Română, additionally acting as Agent, as well as a consortium of five additional international and local banks.

On 22 June 2026, the financing of Peștera II, an onshore wind project located in Constanța County, Romania, was successfully concluded. With Erste assuming the roles of Senior Lender, as well as Hedging Bank and Agent (through BCR), the project marks another important step in the bank’s efforts to support the energy transition in CEE.

Peștera II, developed by leading global energy infrastructure investor Copenhagen Infrastructure Partners (CIP), will have an installed capacity of 392 MW, making it one of the largest wind projects ever built in Romania to date.

The Peștera II project financing is one of the largest non-recourse renewable energy financings in CEE and comprises facilities of approximately EUR 510 million, provided by a consortium of seven local and international commercial banks: Erste Group Bank AG and Banca Comercială Română, Deutsche Bank, Société Générale (including BRD), Eurobank, and Piraeus Bank.

Equity is provided by the project sponsors: CIP’s Growth Markets Fund II (GMF II), alongside co-investors including the European Investment Bank and a Danish pension fund.

Following previous projects supported by Erste, the project has once again been financed under Romania’s contract-for-difference (CfD) scheme. Peștera II has secured a 15-year CfD covering 245 MW of its capacity.

The project is expected to reach commercial operations in 2028 and will make a significant contribution to Romania’s energy security, while delivering competitively priced renewable power over the long term.

“We are proud to contribute to this milestone project in Romania. Erste continues to serve as a reliable and trusted partner supporting the energy transition throughout CEE. The successful financing of Peștera II, in strong collaboration with a well-established global sponsor such as CIP, further strengthens Erste’s role as a preferred financing partner for renewable energy projects in the region,” says Wolfgang Hargassner, Head of Corporate Finance.