Project Details

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Results Chart for Delivery Method and Financing

Delivery Method

DBFOM All Private Finance
# of Projects: 1
100% of the Results

Background informationProject Created: April 21, 2010

Project Name: Romania Wind Farm(s) Project
Year in Operation:
Sector: Energy
Subsector: Energy Generation
Status: Design / Construction
Type: New Facility
Description: 90 Mega Watt (MW) and 138MW wind farms near Pestera (30 turbines) and Cernavoda (46 turbines), Romania, respectively. Private development through Romania subsidiary of one of world's largest companies working in renewable energy. 150m high, with 45m rotor blades. 99% of land will be returned to agricultural use following construction.
Delivery Method as described in the country where it's located: Build Own Operate
Is the project still active: Yes
Comments: The project comprises the wind turbines, electricity substations, service roads and cables linking the turbines and the substations to the national grid.

Project Locations

Address:
City: Pestera
State:
Country: Romania

Address:
City: Cernavoda
State:
Country: Romania

Souces of Project Support (Non-monetary)

Checkbox Checked Land: Land purchased from private individual land owners for the actual site of the turbines and access roads. The land was formerly used for agricultural activities, and no residential properties were located on either site.
Checkbox Checked Environmental Clearance: Each of the projects were reviewed and approved by local planning and environmental entities. Building permits were issued in December 2008.

Souces of Project Support (Monetary)

Checkbox Checked

From Public (Government) Sources to Producers

Arrow Right
Checkbox Checked

Credit Enhancements

Arrow Right
Checkbox Checked

From Other Public Entities: European Bank for Reconstruction and Development is considering providing debt financing for between 51 million Euros and 105 Euros. (between 17% and 35% of entire cost of project.) Total project costs for initial delivery estimated at 300 million Euros ($404 million).

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: Developer is arranging for balance of project cost as debt.

Project Delivery & Finance Method

Project Delivery:
All Public Finance. Public Sponsor contracts for initial design, and separately contracts for initial construction. Public Owner operates and maintains the resulting facility.
Is there an independent checking engineer? No
Project Finance Method: All By Private Sponsor

Procurement Approach

Project Component
Qualifications
Based Selection
Request for
Qualifications
Request for
Proposals
Invitation
for Bids
Unsolicited
Proposals

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Combined Term: Initial Design, Construction, O&M Period
20
0
Forms
Description
Other
Turbine life expectancy is 20 years. Developer is committed to return the site to agricultural state at end of term, if turbines are not replaced.  

Project Value (If and As Known)

Date of Estimated Project Value: April 21, 2010
Project Value
Hard Cost
Hard & Soft Costs
Construction
$250 Million - 1 Billion US
(none)

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