The European Investment Bank will lend €34 million to help fund three new solar parks in south-western Romania with a combined capacity of 190 megawatts, enough to power more than 160,000 homes.
The photovoltaic plants are planned in Olt and Dolj counties in the Oltenia region, near the border with Bulgaria and the Danube River, according to the European Investment Bank's statement on Monday.
Construction is due to begin this month and the sites are expected to enter full commercial operation in September 2027.
The loans will go to three Romanian solar companies owned 65% by Norway-based developer Scatec ASA and 35% by Defic Globe BV.
EIB funding forms part of a wider €121 million financing package that also includes the European Bank for Reconstruction and Development and Romanian lender BCR.
Contracts and targets
Two of the three projects have secured Contracts for Differences through a Romanian government auction held in 2024, covering around two-thirds of expected output for almost 15 years, the bank said.
Contracts for Differences are state-backed agreements that set a price for electricity over a period, reducing exposure to wholesale market swings.
The solar parks will be built in the communes of Dobrun and Sadova.
Renewables are targeted to account for more than 38% of Romania’s final energy consumption by 2030, with the EU setting a bloc-wide goal of at least 42.5% over the same period.
