Copenhagen Infrastructure Partners (CIP), through its Growth Markets Fund II (GMF II), has reached financial close for the 392 MW Pestera II onshore wind project located in Constanța County, Romania. The project secured a 15-year contract for difference (CfD) for 245 MW of capacity in December 2024. The project is expected to commence commercial operations in 2028.
The project financing includes approximately €510 million in debt facilities provided by a consortium of seven local and international banks, while equity is being contributed by GMF II, the European Investment Bank, and a Danish pension fund. Key construction contracts for the project have been awarded to Nordex for the supply of 56 turbines and Electrogrup as the balance-of-plant contractor, with Blue Power Partners providing construction management services.
In June 2026, CIP agreed to divest minority stakes in its 500 MW Devilla battery energy storage project to the Scottish National Investment Bank and Nuclear Liabilities Fund. The project, located in Kincardine, Scotland, is a two-hour-duration lithium-ion BESS. CIP will retain a majority stake and continue to oversee the project construction.
