The European Investment Bank (EIB) will allocate up to €30 million to develop one of Romania’s largest onshore wind initiatives, which will begin construction by the end of the year.

The EIB’s support will co-finance a second onshore wind farm in Pestera, a locality near the city of Constan?a, on Romania's Black Sea coast.

Pestera II, one of Romania’s largest onshore wind initiatives, will have an installed capacity of approximately 400 MW, enough to power over 1.4 million Romanian households for a year. Construction is set to begin later this year, and once completed, it will contribute to the European Union’s efforts to achieve climate neutrality by mid-century.

The EIB’s support for “Pestera II” is a co-investment with funds managed by Copenhagen Infrastructure Partners (CIP). The total investment in this project is expected to exceed €500 million.

EIB Vice President Ioannis Tsakiris stated, "This initiative not only enhances Romania's renewable energy capacity, but also contributes to the EU’s ambitious climate and sustainability goals. I congratulate Copenhagen Infrastructure Partners for their leadership in advancing this flagship renewable energy project, which strengthens energy security, promotes sustainable economic growth, and accelerates the green transition. Together, we reaffirm our strong commitment to a more sustainable, resilient, and climate-neutral Europe."