ERG and Lujkoil buy Romania farm

Italy’s ERG Renew and Russian oil giant Lukoil have bought an 84MW wind project in Romania.

The two companies acquired the rights to a permitted wind project in the Tulcea region from former owner Inergia.

The deal was made by Lukerg Renew, the joint venture company set up by ERG and Lukoil in May 2011 to invest in renewables projects in Eastern Europe and Russia.

Lukerg Renew plans to start building the wind farm in the first quarter of next year, with commercial operation scheduled to begin in the first half of 2014.

The project will cost about E135m ($178m) to build. Lukerg Renew is seeking finance for the project…

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