BAKU, Azerbaijan, February 17. The European Investment Bank (EIB) said it will provide €34 million in financing for the construction of three photovoltaic plants in southwestern Romania, with a combined capacity of 190 megawatts (MW) — enough to supply electricity to more than 160,000 homes, Trend reports with reference to the Bank.
The plants will be located in Olt and Dolj counties in the Oltenia region, near the Danube River. Construction is scheduled to begin this month, with full commercial operations expected by September 2027. The project aims to advance Romania’s and the European Union’s climate goals, increase energy independence, and support regional development.
The financing package totals €121 million, with EIB loans covering €34 million. Other contributors include the European Bank for Reconstruction and Development (EBRD) and Romanian lender BCR. The solar plants are owned 65% by Norway-based renewable energy developer Scatec ASA and 35% by Defic Globe BV.
Two of the three plants have secured Contracts for Differences (CfD) from the Romanian government, covering around two-thirds of the project’s expected output for nearly 15 years. The solar farms will be located in the communes of Dobrun and Sadova.
The new plants rank among Romania’s largest solar projects and are expected to accelerate the country’s transition away from fossil fuels, in line with EU efforts to reduce energy import dependency and increase renewable energy capacity.
The EIB, the EU’s long-term lending institution owned by member states, finances projects aligned with EU policy priorities, including climate action, digitalization, security, cohesion, and sustainable infrastructure. Almost 60% of the EIB Group’s annual financing supports initiatives directly addressing climate change.