UniCredit Leasing is to finance an €8 million
wind power plant in Romania as part of its expansion strategy in
renewable energy business across Eastern Europe.

The project involves the financing a wind farm
in the Tulcea county in eastern Romania for Energy Rose, a wind
energy group active across Romania, Bulgaria and Poland. It
consists of three V90 turbines being built and installed by Vestas,
the Danish manufacturer of wind turbines.

Each wind turbine is 150 meters high and has a
power of 2 MW. Once fully operative, the plant will produce 21,000
MW of power a year – enough for the energy requirements of 5,000
families. It will allow the curbing of 14,500 tonnes of CO2
emissions a year.

The deal is a 15 years full pay-out lease. It
has been arranged by UniCredit Leasing’s competence centre in
renewable energy, run by Martin Mayr, and UniCredit Leasing
Romania’s corporate customers’ team, managed by Gabriel Mihai.

Mayr said: “Last year, we financed wind
projects amounting to €150 million, especially in Austria, Romania,
Bulgaria and Turkey. We expect that in these countries in 2011
there will be a strong development of wind projects, owing to the
favourable natural conditions and to the energy policy adopted by
local governments.”

Other recent deals in wind energy have
included a wind park in Kavarna, Bulgaria, for €14 million and the
largest ever built wind park in Turkey. The total investment in the
project was 84 million, of which UniCredit’s Turkish subsidiary
Yapy Kredi Leasing financed €64 million.

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UniCredit Leasing financed renewable energy
projects amounting to almost €1 billion last year.