The European Bank for Reconstruction and Development (EBRD) is currently deliberating the provision of a senior loan, amounting to EUR 55 million (USD 59.4 million), to facilitate the development of 315 MW solar parks in Romania. The proposed loan is slated for approval on March 6, as disclosed in an official filing by the lending institution.
Local entities, RTG Solar Energy SRL and Solis Imperium SRL, stand to benefit from the financial support, with plans to construct two photovoltaic (PV) parks in the southeastern regions of Romania. These ventures are owned by the Israeli renewable energy firm, Nofar Energy, which, in December of the previous year, entered into an agreement with China's LONGi Solar for the development of 576 MW worth of projects in Romania.
The envisaged solar farms will be situated on arable land in the Iepuresti and Ghimpati regions of Giurgiu county, collectively contributing an estimated 400 GWh of electricity annually. This substantial output is anticipated to play a role in offsetting approximately 170,000 tonnes of carbon dioxide (CO2) emissions each year. The Iepuresti region's solar park is designed to have a capacity of 169 MW, while the Ghimpati facility will contribute an additional 146 MW to the overall renewable energy capacity.
The EBRD's consideration of this financial backing aligns with the growing emphasis on sustainable energy initiatives, marking a significant step toward enhancing Romania's renewable energy landscape.