French company Photosol is establishing a regional office in Romania to oversee operations in Bulgaria and the Western Balkans, aiming to develop 1.2 GW of solar capacity across the region. The company plans to enter the Romanian market this year, with a target of 500 MW.
Photosol operates 97 solar plants in France and has a project pipeline of 5 GW. It sees Romania as a key market due to its favorable business environment, EU financing mechanisms, and strong renewable energy growth. The country’s solar capacity reached 4.9 GW in 2023, with a goal of 8.2 GW by 2030.
Initially focusing on ground-mounted solar farms, Photosol plans to expand into agrivoltaics. Half of its revenue is expected to come from commercial PPAs, as Romania’s market matures. The country’s renewable push includes phasing out coal and Russian gas, a Contracts for Difference (CfD) mechanism, and strong grid interconnections.
With 992 MW in operation or construction and over 5 GW in development, Photosol is also expanding in Italy, Spain, and Poland.
