Dec. 19 – LukErg Renew, a joint venture between ERG Renew and Lukoil-Ecoenergo, has bought 100% of the capital of Land Power Srl from Inergia SpA (Santarelli Group). Land Power Srl is a Romanian firm holding the necessary authorizations for the construction of a wind park in the region of Tulcea, that has a planned capacity of over 84 MW and electric power production estimated at more than 200 GWh per year. LukErg Renew plans to begin construction of the wind farm in the first quarter of 2013, to enter into operation in the first six months of 2014. The total estimated investment for the construction of the park is approximately €135 million. The project – according to a note – will be financed through a long-term non-recourse project financing by the European Bank for Reconstruction and Development, also carrying out due diligence on the project.
