Mar 13, 2025
CIP obtains a 245MW contract for difference for a wind project in Romania.
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Copenhagen Infrastructure Partners (CIP) has obtained a contract for difference (CfD) for 245MW of output from a Romanian wind project.
CIP announced that Radramo Power SRL, the entity holding the rights to the 400MW Pestera 2 onshore wind project, has entered into a binding CfD for 245MW of its capacity.
Earlier in 2024, Growth Markets Fund 2 (GMF 2), a fund managed by CIP, agreed to acquire the project from its original developers, pending the fulfillment of certain customary conditions.
Pestera 2 is one of the largest onshore wind projects in Romania, featuring up to 396MW of installed capacity and a total investment of approximately €500 million.
The project has been granted the CfD contract after its successful participation in Romania’s inaugural CfD auction in November 2024, where it secured a contract lasting up to 15 years at a strike price of €64.9/MWh.
Situated in Constanta in Southeast Romania and benefiting from strong wind resources and close proximity to existing transmission infrastructure, Pestera 2 will be one of the largest renewable energy projects in Romania. It is expected to significantly enhance the security of supply in Romania and provide attractively priced, sustainable power in the long term.
The Romanian CfD scheme is backed by €3 billion of dedicated funding from the EU Modernisation Fund.
The European Investment Bank (EIB) has committed €30 million in co-investment into the project, along with the capital that will be contributed by EIB as part of the group of investors that have pledged capital to GMF 2.
In 2024, the EIB also declared a commitment of $100 million to GMF 2.
Radu Gruescu, a partner at CIP, stated: “The auction has provided much-needed investor confidence to attract the capital necessary for constructing a substantial volume of new renewable power generation capacity, and we want to commend the Ministry of Energy, Transelectrica, and other relevant stakeholders for making this possible.
“Having secured the CfD contract, we anticipate the commencement of construction for the Pestera II project later this year, and beyond that, we aim to expand CIP’s presence in Romania’s energy transition with further investments.”
EIB Vice-President Ioannis Tsakiris added: “The European Investment Bank is proud to support Romania’s clean energy transition through our €30 million investment in the Pestera II onshore wind project.
“I commend Copenhagen Infrastructure Partners for their leadership in advancing this landmark renewable energy project, which strengthens energy security, promotes sustainable economic growth, and accelerates the green transition.”
CIP announced that Radramo Power SRL, the entity holding the rights to the 400MW Pestera 2 onshore wind project, has entered into a binding CfD for 245MW of its capacity.
Earlier in 2024, Growth Markets Fund 2 (GMF 2), a fund managed by CIP, agreed to acquire the project from its original developers, pending the fulfillment of certain customary conditions.
Pestera 2 is one of the largest onshore wind projects in Romania, featuring up to 396MW of installed capacity and a total investment of approximately €500 million.
The project has been granted the CfD contract after its successful participation in Romania’s inaugural CfD auction in November 2024, where it secured a contract lasting up to 15 years at a strike price of €64.9/MWh.
Situated in Constanta in Southeast Romania and benefiting from strong wind resources and close proximity to existing transmission infrastructure, Pestera 2 will be one of the largest renewable energy projects in Romania. It is expected to significantly enhance the security of supply in Romania and provide attractively priced, sustainable power in the long term.
The Romanian CfD scheme is backed by €3 billion of dedicated funding from the EU Modernisation Fund.
The European Investment Bank (EIB) has committed €30 million in co-investment into the project, along with the capital that will be contributed by EIB as part of the group of investors that have pledged capital to GMF 2.
In 2024, the EIB also declared a commitment of $100 million to GMF 2.
Radu Gruescu, a partner at CIP, stated: “The auction has provided much-needed investor confidence to attract the capital necessary for constructing a substantial volume of new renewable power generation capacity, and we want to commend the Ministry of Energy, Transelectrica, and other relevant stakeholders for making this possible.
“Having secured the CfD contract, we anticipate the commencement of construction for the Pestera II project later this year, and beyond that, we aim to expand CIP’s presence in Romania’s energy transition with further investments.”
EIB Vice-President Ioannis Tsakiris added: “The European Investment Bank is proud to support Romania’s clean energy transition through our €30 million investment in the Pestera II onshore wind project.
“I commend Copenhagen Infrastructure Partners for their leadership in advancing this landmark renewable energy project, which strengthens energy security, promotes sustainable economic growth, and accelerates the green transition.”