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.
