Israeli renewable energy company Econergy Renewable Energy has secured a €25 million project financing agreement with Vista Bank Romania to support its 56 MW Scurtu Mare solar power plant located in Teleorman County, southern Romania.
The new financing facility will be used to partly refinance shareholder and bridge loans originally provided by Phoenix Group and affiliated entities during the project’s construction phase. The long-term loan, which matures in October 2040, carries an interest rate of three-month EURIBOR plus a margin between 2.5% and 3.5%. Repayment of interest and principal will begin on 31 December 2025, with a grace period on principal payments until 31 March 2026.
Connected to the national grid earlier in 2025, the Scurtu Mare solar power plant is one of Econergy’s flagship renewable energy assets in Romania. The company also plans to expand the site with a 42 MW battery energy storage system (BESS), representing an additional investment of €12 million. The new storage facility is expected to generate around €5 million in annual revenues and achieve an average EBITDA of €4 million during its first five full years of operation.
Econergy stated that the financing aligns with its project-level capital strategy, aimed at supporting sustainable portfolio growth while maintaining a strong financial foundation. By mid-2026, the company expects its total project financing commitments to reach €514 million, reflecting its expanding footprint across the Central and Eastern European renewable energy market.
