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EBRD backs Romanian hydro plant with USD156m loan
SC Hidroelectrica has secured a EUR110m (USD155.8m) loan to support the rehabilitation of a hydroelectric power plant in north eastern Romania. The European Bank for Reconstruction and Development (EBRD) is providing EUR70m (USD99.1m) of the loan, with Erste Bank Group and Caixabank putting up the remainder. The project will involve rehabilitating six units of the 50-year old Stejarul Bicaz hydroelectric plant which has a 210MW capacity. The total cost of the project is expected to be EUR136.9m (USD193.8m). Hidroelectrica operates 273 hydro power plants with a combined capacity of 6.5GW.
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