Shikun & Binui Energy has announced securing a EUR 49 million (USD 52.6 million) loan to support the development of a 101 MW solar project in northwest Romania.
The financing, arranged with Raiffeisen Bank International AG, provides flexibility for the Israeli developer to either sell the project's output on the Romanian wholesale market or attract direct off-takers among local electricity traders and suppliers, the company stated in a social media post on Monday.
Known as the Simleu Silvaniei Project, the solar facility will be constructed by CJR Renewables, chosen as the construction contractor. This marks Shikun & Binui Energy's second project in Romania to reach financial close and commence construction, following the 71 MW Satu Mare project.
The Simleu Silvaniei site is anticipated to feature 148,000 PV modules, with plans for approximately 360 fixed structures and 13 concrete foundations, as outlined in a previous statement by CJR. Didi Paz, CEO of Shikun & Binui, underscored the firm's commitment to the Romanian market: “We see significant opportunities in the renewable energy sector in Romania and are strengthening our presence with a substantial project pipeline exceeding 1.5 gigawatts.”
