The European Bank for Reconstruction and Development (EBRD) has provided a €120 million (US$139 million) financing package for a 342MW solar-plus-storage project in Romania.
Developed by independent power producer (IPP) Econergy, the Părău 2 project will be located in the central city of Brașov.
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It is the first time that the EBRD has financed a hybrid solar-plus-storage project in Romania, which will have a 150MW/300MWh battery energy storage system (BESS).
Financing of the solar-plus-storage project will consist of an EBRD A loan of up to €57 million, alongside an EBRD B loan of up to €63 million, which includes a €3.6 million debt service reserve facility provided by commercial banks Privredna banka Zagreb and NLB.
The project is co-financed by the Black Sea Trade and Development Bank, OTP Bank and Exim Banca Românească as part of an aggregate debt financing package of up to €229 million.
Georgios Gkiaouris, the EBRD’s Head of Energy Europe, said: “Econergy’s Părău 2 project represents an important step in Romania’s energy transition. By financing one of the country’s pioneering solar and battery storage investments, the EBRD is helping to increase the generation of renewable energy, strengthen energy security and support a more resilient and flexible electricity system.”
Moreover, Econergy’s solar component of the hybrid project had previously secured a 125MW allocation under Romania’s first Contract for Difference (CfD) scheme, which had awarded 432MW solar PV capacity in 2024. A second round of the scheme had allocated more than 1.4GW of solar PV and was developed with the technical assistance of EBRD.
In addition, Intesa Sanpaolo and Exim Banca Românească will jointly provide a €25 million value-added-tax facility and a €9.5 million letter-of-credit facility to support the project’s CfD requirements.
Econergy’s Părău 2 solar-plus-storage project is part of the company’s broader strategy to co-locate energy storage with solar PV projects. Earlier this month, the IPP connected the 59MW Iancu Jianu solar PV project to the country’s electricity grid, which will have a 35MW/70MWh BESS added and is expected to connect to the grid in Q2 2027.
