Romania’s renewable energy sector is poised for a significant expansion following a new financing agreement coordinated by the European Bank for Reconstruction and Development (EBRD). The Bank has arranged a €192 million loan package to support the development of three large-scale solar power plants with a combined installed capacity of 531 MW.
The projects are majority-owned by Nofar Energy, an Israeli renewable energy developer with growing regional presence. Of the total financing, the EBRD will provide €64 million, while the remaining €128 million will be supplied by participating commercial banks.
Located in Dâmbovița and Giurgiu counties, the three solar facilities are expected to generate approximately 676 GWh of electricity annually. This output will reduce Romania’s carbon emissions by an estimated 280,000 tons per year, contributing to the country’s goal of sourcing 38 % of its final energy consumption from renewables by 2030.
One of the projects—the Slobozia solar plant—secured a 15-year Contract for Difference (CfD) during Romania’s first RES auction, a mechanism developed with support from the EBRD to promote stable long-term investment. Electricity from the Corbii Mari and Iepurești II solar plants will be traded directly on the day-ahead market, highlighting the growing commercial viability of unsubsidized renewable energy projects.
