'European wind looking east' says insurer

A wind project in Romania

Wind projects in Eastern Europe are becoming more “bankable” and attractive to investors, claims a specialist underwriter to the renewables sector.

GCube says its latest deal to insure EP Global Energy’s development of an 80MW, Nordex-equipped project in Chirnogeni, Constanta, Romania, shows how the industry is increasingly looking east amid sluggish conditions in some Western markets.

Pointing to the major investor names involved such as EBRD, ING and Unicredit, Fraser McLachlan, GCube's CEO, says: “There seems to be little doubt that within Europe, the focus for 2013 will be set on looking to the East.

“While we have seen some instability in the political support for renewable energy in some regions, Bulgaria’s…

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