Unigea Solar Projects Romania has reached financial close on an 85-megawatt photovoltaic project in Arad, western Romania, securing €30.25 million in development financing through a deal with Kommunalkredit Austria.
The funding will support the development, construction, and eventual operation of the Helios 1 solar farm, which is expected to begin commercial operations in the first quarter of 2026.
“We are delighted to have supported Unigea Romania in successfully realising this project, which makes an important contribution to the country’s green transition,” said Volker Kruse, head of banking at Kommunalkredit. “This transaction underscores Kommunalkredit’s strong role in financing greenfield renewable energy projects in Romania – and our position as a trusted partner for Austrian developers expanding into the Romanian market.”
The Helios 1 project, acquired by Unigea Romania in early 2024 during its ready-to-build phase, is located on a 68-hectare site near the former CET Arad coal-fired power plant. The site, previously used as an ash disposal facility, will be repurposed for solar energy generation.
Upon completion, the plant is set to become the largest east-west-oriented photovoltaic installation in Eastern Europe, according to the company. Construction of a new substation began in mid-2024, with full construction of the PV park to continue in the coming months.
Unigea Romania is a subsidiary of Berlin-based Unigea Solar Projects GmbH.
