Copenhagen Infrastructure Partners (CIP) announced that Radramo Power SRL, the company behind the ~400MW Pestera II onshore wind project in Romania, has signed a binding Contract for Difference (CfD) for 245MW of its capacity. The project, one of Romania’s largest onshore wind developments, is backed by EUR 500 million in total investment.
Located in Constanta, Southeast Romania, Pestera II benefits from strong wind resources and proximity to transmission infrastructure. The project secured a 15-year CfD contract at EUR 64.9/MWh in Romania’s first-ever CfD auction in November 2024. This auction is part of a national initiative to deliver 3GW of new onshore wind and 2GW of solar capacity by 2025, supported by EUR 3 billion from the EU Modernisation Fund.
The European Investment Bank (EIB) committed EUR 30 million to the project, alongside its USD 100 million investment in CIP’s Growth Markets Fund II (GMF II). CIP had agreed to acquire the project earlier in 2024, pending customary conditions.
Pestera II is expected to enhance Romania’s energy security, provide competitively priced renewable power, and support decarbonization goals. CIP Partner Radu Gruescu highlighted the CfD auction’s role in attracting crucial investment for large-scale renewable projects. Construction is set to begin later this year, with CIP planning further investments in Romania’s energy transition.
EIB Vice-President Ioannis Tsakiris emphasized the project’s contribution to Romania’s clean energy transition, aligning with EU sustainability objectives and strengthening energy resilience.
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