The European Bank for Reconstruction and Development (EBRD), which has been instrumental in supporting Romania's renewable energy ambitions, is providing a senior guaranteed loan of up to €34 million to Solar World SRL, RB Solar Energy SRL and Energie Soleil SRL for the development, construction and operation of two solar power plants in the south of Romania.
The project will be co-financed by the European Investment Bank (EIB) with a senior loan of up to €34 million and by Banca Comercială Română (BCR) with a senior loan of up to €17.5 million.
The three new Romanian companies are owned 65% by Norwegian renewable energy developer Scatec ASA, with the remaining 35% owned by Turkish engineering services provider Defic Globe Energji AS. The project represents Scatec ASA's entry into the Romanian renewable energy sector.
The EBRD financing will be split into two tranches: up to €28 million for a 61.9 MW plant operating with full commercial exposure and up to €6 million for a 127.8 MW plant backed by a 15-year Contract for Difference (CfD) price stabilization scheme.
The commercial tranche will benefit from a first-loss guarantee offered by the European Union under the InvestEU program, reducing risk and allowing greater private sector participation.
The plants will have a combined installed capacity of 189.7 MW, significantly advancing the country's renewable energy ambitions. Once operational, they are expected to generate about 286.9 GWh of green electricity per year, avoiding about 118,600 tons of carbon dioxide emissions annually.
Beyond environmental benefits, the initiative also promotes inclusion. The sponsors will launch a skills development program in partnership with local technical institutions, focusing on green energy and digital skills. A minimum participation of women will be ensured to encourage women to enter the traditionally male-dominated energy sector. Technical support for this program is provided by the EU through the InvestEU Advisory Center.
This investment underlines the EBRD's commitment to accelerate Romania's green transition, along with green transitions in Central and Eastern Europe.
The EBRD is an important implementing partner for the European Union's InvestEU program, which supports sustainable investment, innovation and job creation in the region. It aims to attract over €372 billion of additional investment between 2021-2027. Between 2022 and 2027, the EBRD will use InvestEU guarantees worth €777 million to finance up to €3.8 billion of investment in eligible sectors.
In Romania, the Bank played a key role in the development of the Contracts for Difference scheme, which has succeeded in attracting investment in renewable energy by providing long-term revenue stability to developers, thereby strengthening market integration for renewable energy. It supported two CfD auction rounds as well as made substantial investments in the sector on its own.