Renewables

BIG Mega Renewable Energy secures financing for landmark Urleasca Wind Farm in Romania

BIG Mega Renewable Energy secures financing for landmark Urleasca wind farm in Romania

Photo: BIG Mega Renewable Energy

Published

May 7, 2024

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Published:

May 7, 2024

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BIG Mega Renewable Energy, a leading renewable energy developer, has successfully secured financing for the construction and operation of its landmark Urleasca Wind Farm in Romania. The Financing secures more than €92 million package including the European Bank for Reconstruction and Development (EBRD) together with OTP Bank.

This milestone marks BIG Mega Renewable Energy’s first renewable energy project in Romania. The 102 MW wind farm, located in Brăila County, is expected to generate a substantial 277 GW/h of clean electricity annually, displacing approximately 115,000 tonnes of carbon dioxide emissions.

BIG Mega Renewable Energy paves the way for a sustainable future

Eran Davidi, CEO of BIG MEGA Renewable Energy, said that the signing of the financial agreement was a crucial milestone for the company’s expansion strategy in Romania and the Balkans. He emphasized the project’s significance for Romania’s green energy transition, paving the way for future developments.

As part of the future development, BIG MEGA Renewable Energy reached Ready to Build (RTB) of another wind farm of 120 Mw and several more projects under development.

Davidi expressed gratitude for the exceptional collaboration with EBRD and OTP Bank, acknowledging their unwavering commitment to the project’s success. Davidi also mentioned the long-term Power Purchase Agreement (PPA), which is a very rare arrangement in Romania and potentially the first of its king for a project of this size.

The Urleasca Wind Farm will make a substantial contribution to the Romanian renewable energy goals

Urleasca Wind Farm SRL, the project developer, is a Romanian company ultimately co-owned by BIG Shopping Centers ltd and MEGA OR ltd, both prominent Israeli companies listed on the Tel Aviv Stock Exchange and specializing in shopping mall development and ownership.

This collaboration between BIG MEGA Renewable Energy, EBRD, and OTP Bank represents a significant step forward in securing Romania’s clean energy future. The Urleasca Wind Farm will make a substantial contribution to the country’s renewable energy goals and pave the way for further sustainable development in the region.

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