Pestera Wind Project

Location:

Romania

Project number:

41163

Business sector:

Power and energy

Notice type:

Private

Environmental category:

A

Approval date:

01 Feb 2011

Status:

Complete

PSD disclosed:

21 Apr 2010

Project Description

The EBRD is considering providing a senior loan of € 36.9 million to finance the construction and operation of Pestera (90MW) wind farm, located in Dobrogea region. The full commissioning is expected to take place during the first quarter of 2011.

The Project will support Romania to increase its renewable energy capacity to meet EU’s green energy quotas.

Transition Impact

Through this Project, the Bank will support the expansion of renewable energy market in Romania.

The Project has the potential to help improve the regulatory regime for renewable energy, to demonstrate a successfully operating large scale wind power generation facility and, as such, attract other investors in the Romanian renewable energy sector. In addition, the project is expected to come from improving the standards for business conduct through the Client's application of international best practice in its environmental impact assessment.

The Client

The Project is controlled and developed by EDP Renováveis (EDPR) through Renovatio Power SRL, a Special Purpose Vehicle (SPV), owning Pestera wind farm.

EDPR is the world’s third largest wind energy company with installed capacity of 5,577 MW at year-end 2009 and another 1,293 MW under construction. EDPR has an active presence in six European countries (Portugal, Spain, France, Belgium, Poland and Romania), United States (43 per cent of EDPR’s installed capacity) and Brazil.

EBRD Finance

The EBRD is considering providing a loan of €36.9m (29.3 per cent of total project cost).

IFC is considering providing a loan of equal amount for the two wind farms.

Project Cost

The total project cost is €126.2 million.

Environmental Impact

Categorised A in accordance with EBRD’s 2008 Environmental and Social Policy (ESP). The project consists of constructing two wind farms located in the Dobrogea area of Romania, about 100km inland west from Constanta Black Sea port. Pestera (90 MW) and Cernavoda (138 MW) wind farms are located circa 10 km from each other, near the Danube Constanza canal and Cernavoda Nuclear Power Plant.

Environmental Impact Assessments (EIA’s) have been undertaken for each project in line with National legislation. Neither of the wind farms is located in a Natura 2000 areas, however, Dobrogea county is associated with important bird migratory routes.

An environmental and social due diligence (ESDD) has been undertaken for both projects by an independent consultant, taking into account cumulative impacts. This has confirmed that the projects are in compliance with the National, EU and Bank Performance Requirements (PRs) and environmental and social impacts are well managed and mitigated. Based on the results of the due diligence an Environmental Management and Monitoring Plan (EMMP) has been developed and agreed with the Company. This includes monitoring and reporting obligations.

The projects have finished the development stage and currently are under construction. The projects have obtained environmental and construction permits in line with National requirements.

In line with the Bank’s Environmental and Social Policy, undertaken an Environmental and Social Impact Assessment (ESIA) of the project and information on the project is available on the company and Bank web site at the following locations:

Full EIA documentation is available locally at:

1. EDP Renewables, Romania office, Rosetti Tower Office Building, Maria Rosetti st 6, 3rd floor, Sector 2, Bucharest, Romania; Tel Tel. +40 72 592 98 84 ; Contact Ms Laura Lazar; e-mail: LauraLazar@edprenovaveis.com

2. EDP web sites: http://www.edprenovaveis.com/ -
(under the link: sustainability/EDPR in the community/Romania sustainability)

3. Local community

  • Pestera Local Council:
    Izvorului, nr. 32, Pestera, 907240
    Phone: 0241-856872, 856873
    Fax: 0241-856800
    E-mail: primariapestera@yahoo.com
    Mayor: Valentin Vrabie
     
  • Cernavoda Local Council:
    Str.Ovidiu nr.11, Cernavoda, 905200
    Tel./Fax: 0241-238.030; 0241-238.433 / 0241-239.578
    E-mail: primaria@cernavoda.ro
    Mayor: Mariana Mircea
     
  • Saligny Local Council:
    Str.Scolii nr.15, Saligny, 907203
    Tel./Fax: 0241-853.093
    E-mail: primariasaligny@yahoo.com
    Mayor: Gabriel Tatulescu
     
  • Mircea Voda Local Council:
    Str.Primariei, Mircea Voda, 907200
    Tel./Fax: 0241-853.188 / 0241-853.099
    E-mail: primar@primaria-mirceavoda.ro
    Mayor: Dumitru Dedu

    4. EBRD, Regional Office Romania, Metropolis Center; 56-60 Iancu de Hunedoara Blvd.; 3rd floor, West Wing; Sector 1; Bucharest; Romania; Tel: +40 21 202 7100: Contact Craciun, Mihnea ; email: craciunm @ebrd.com

    5. EBRD Business Information Centre, London; One Exchange Square; London, EC2A 2JN; United Kingdom; Tel: +44 207 338 6000

    The ESIA package and Executive Summary have also been released for public review by the project sponsor on its website (http://www.edprenovaveis.com)

There is an Environmental and Social Impact Assessment available for this project.

Technical Cooperation

None.

Company Contact

Celma Joao Batista Pires
EDP Renewables, Serrano Galvache, 56
Centro Empresarial Parque Norte
Edificio Encina, 1st
CP 28033 Madrid
Spain

 

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.