The European Investment Bank (EIB) is committing up to 30 million euros to Romania’s Pestera II onshore wind farm project, supporting the country’s green transition and energy independence, Trend reports.

The project, located near Constanta on the Black Sea coast, will contribute to Romania’s renewable energy capacity and help meet EU climate targets.

EIB’s investment will co-finance the wind farm alongside Copenhagen Infrastructure Partners (CIP), a Danish investment firm specializing in renewable energy projects. The total investment in Pestera II is expected to exceed 500 million euros, with the farm set to have a capacity of up to 400 megawatts, enough to power over 1.4 million households annually.

Construction of Pestera II is set to begin later this year, and the project is expected to play a key role in enhancing Romania’s energy security and supporting the EU’s climate neutrality goals.

The EIB’s support reflects its ongoing commitment to financing sustainable energy projects across Europe.