The contract, Nordex’s largest in Romania to date, will see the company supply 32 of its 2.5MW N90/2500 turbines for the project. The wind turbines will be supplied in the summer of 2013, with commercial operation scheduled for late 2013.
The wind turbine supply contract comes at a key time for Nordex in Romania, just a few months after the company incorporated its Romanian arm, Nordex Energy Romania, in Bucharest in May. The company is already handling the service contract for 20MW of wind energy capacity in Romania, but hopes to boost its footprint in the region.
“Chirnogeni is an important reference project for our new subsidiary in Romania. In this way, we are demonstrating that large-scale projects can also be successfully executed in this country by Nordex,” said Lars Bondo Krogsgaard, a member of Nordex’s management board.
The Chirnogeni wind farm is claimed to be the first true non-recourse financed renewable power project in Romania. Financing was provided by a consortium of commercial banks including Erste Bank, ING and UniCredit and by the European Bank for Reconstruction and Development (EBRD) – which has also recently financed two Romanian wind farms owned by Spanish company EDP Renováveis.
Iberdrola is carrying out the EPC contracting on Chirnogeni, while the project owner and operator is EP Wind Project (Rom), a company owned by three different investors. The Marguerite Fund, an infrastructure fund backed by six major EU financial institutions has the largest share in the project, with a 50% stake. EP Global Energy, a privately owned power development company incorporated in Cyprus, started developing the project in 2007, holds a 20% stake, while Prague-based private equity fund EnerCap Power Fund holds the remaining 30%.