The EBRD is continuing to support the implementation of Romania’s ambitious renewable energy generation programme with a major investment to modernise the country’s oldest hydro power plant. The new €110m loan to S.C. Hidroelectrica S.A., the state-owned hydro power company and the biggest electricity producer in Romania, aims to increase energy production capacities and improve operational efficiency and safety across the whole sector. This new investment will finance the rehabilitation of six units at Stejarul Bicaz, a 50-year old hydro power plant with a total capacity of 210 MW on the Bistriţa River in north-eastern Romania, and is part of the Bank’s support for sustainable energy infrastructure investments in the region. The EBRD will provide €70m of the total financing, with €40m being syndicated via commercial banks – Erste Bank Group AG and Caixabank. The loan covers about 80% of the project cost, which is estimated at €136.9m.