BAKU, Azerbaijan, November 27. The European Bank for Reconstruction and Development (EBRD) is supporting Romania’s energy transition with a 192 million euro financing package for three new solar power plants in south-eastern Romania, the bank said, Trend reports.
The projects, located in Dâmbovița and Giurgiu counties, will have a combined installed capacity of 531 MW and are expected to generate around 676 GWh of green electricity annually, avoiding about 280,000 tons of CO₂ emissions each year. The EBRD will provide 64 million euros for its own account, with the remaining 128 million euros mobilized from commercial lenders.
The Slobozia plant will benefit from a 15-year Contract for Difference (CfD) awarded under Romania’s inaugural CfD auction, while the Corbii Mari and Iepuresti II plants will sell power on the country’s competitive Day-Ahead Market, highlighting the growing commercial viability of unsubsidised renewables.
The CfD scheme, designed with EBRD technical assistance and launched in 2024, has awarded 4.2 GW of solar and wind capacity, surpassing Romania’s national target of 3.5 GW under its Recovery and Resilience Plan.
Grzegorz Zielinski, EBRD Head of Energy Europe, said the financing “demonstrates how we can scale up renewable investments and support Romania’s ambition to add more than 10 GW of renewable capacity by 2030.”
The solar projects are majority-owned by OY Nofar Energy, an Israeli company listed on the Tel Aviv stock exchange. Nofar Energy Romania CEO Favi Stelian said the partnership with EBRD “accelerates the deployment of new green energy assets and reinforces Romania’s sustainability goals and regional energy security.”
The EBRD has invested over 12 billion euros in 576 projects in Romania to date, making it a leading investor in the country.