The European Bank for Reconstruction and Development (EBRD) is currently evaluating the prospect of extending a loan of up to EUR 55 million (USD 59.4 million) to support the construction of 315 megawatts of solar parks in Romania.
The senior loan under consideration is scheduled for approval on March 6, according to a filing by the EBRD. The financing is intended for local entities RTG Solar Energy SRL and Solis Imperium SRL, both tasked with developing two photovoltaic (PV) parks in southeastern Romania. These project entities are owned by the Israeli renewable energy firm Nofar Energy, which, in December of the previous year, placed an order with China's LONGi Solar for 576 megawatts of projects in Romania.
The proposed solar farms, to be situated on arable land in the Iepuresti and Ghimpati regions of Giurgiu county, are anticipated to collectively generate approximately 400 gigawatt-hours of electricity annually. This output is expected to contribute to offsetting 170,000 tonnes of carbon dioxide (CO2) emissions each year. The Iepuresti facility is set to have a capacity of 169 megawatts, while the Ghimpati project will be sized at 146 megawatts.