Clifford Chance Badea, the Bucharest office of the global law firm Clifford Chance, advises Copenhagen Infrastructure Partners (CIP), a global fund manager and leading investor in energy infrastructure, on reaching financial close on Pestera II onshore wind farm, in an approximately EUR 510 million deal — one of the largest renewable energy project financings in Romania and the wider Central and Eastern European region to date.
The consortium of local and international commercial banks included Erste Bank and Banca Comercială Română, Deutsche Bank, Société Générale and BRD, Eurobank, and Piraeus Bank. Equity is funded by the project owners: CIP’s Growth Markets Fund II (GMF II) and two co-investors – the European Investment Bank and a Danish pension fund.
The Peștera II onshore wind project is one of the largest wind energy initiatives in Romania, with a total capacity of 392 MW. The project qualified for the Contract for Difference (CfD) support mechanism in the first CfD auction held at the end of 2024, for an installed capacity of 245 MW (the largest wind project to qualify in the auction).
