The European Investment Bank (EIB) has initiated a financing initiative aimed at bolstering Romania’s renewable energy infrastructure by backing the development of three large-scale solar power plants. This project will introduce an additional 190 MW of capacity to the national grid, significantly enhancing the country’s renewable energy output and supporting its commitment to sustainability.
Strategically located in Olt County and Dolj County within the Oltenia region, these solar parks are poised to meet the annual electricity demands of over 160,000 households. The construction phase is set to commence this month, with expectations for commercial operations to begin by September 2027. This initiative aligns with both national ambitions and broader European Union objectives aimed at reducing emissions, increasing renewable energy sources, and minimizing energy imports.
The EIB’s financial contribution totals 34 million euros, which is part of a comprehensive funding package amounting to 121 million euros. The project is predominantly owned by Scatec, which holds a 65% stake, while Defic Globe owns the remaining 35%. In addition to EIB support, financing is also being provided by the European Bank for Reconstruction and Development and BCR. Notably, two of the solar plants have already secured Contracts for Difference in Romania’s upcoming 2024 auction, providing a framework for stable long-term revenue.
Located in Dobrun and Sadova, these solar installations are expected to play a crucial role in enhancing Romania’s energy security. Furthermore, they are anticipated to elevate the share of renewables in final energy consumption to over 38% by 2030, marking a significant step towards achieving both national and EU climate targets.
