EBRD approves loan for rehab of oldest hydro plant in Romania

The European Bank for Reconstruction and Development has approved a EUR110 million (USD153.7 million) loan to state-owned hydropower company S.C. Hidroelectrica for modernization work at the 50-year-old Stejarul Bicaz hydroelectric project in Romania.

The loan will finance the rehabilitation of six units at the 210-MW Stejarul Bicaz hydro project. The hydroelectric plant is the country's oldest, the bank reported.

The hydro project is located on the Bistrita River in north-eastern Romania.

The European Bank for Reconstruction and Development recently announced it is making its first investment in the renewable energy sector in Georgia with a loan to finance the construction of a hydropower plant in the south west of the country.

The EBRD and the International Finance Corporation (IFC), a member of the World Bank Group, are providing a USD115.5 million credit to Georgia-Urban Energy to co-finance the construction and operation of its 87-MW Paravani hydropower plant, news agencies reported.

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