The EBRD will provide €64 million for its own account for the construction of the Slobozia, Corbii Mari and Iepurești II solar power plants, with the remaining €128 million mobilised from commercial lenders.
Located in Dâmbovița and Giurgiu counties, the solar power plants are expected to generate approximately 676 GWh of green electricity annually, avoiding around 280,000 tonnes of CO₂ emissions each year. This will contribute to Romania's target of achieving 38% of gross final energy consumption from renewables by 2030.
The Slobozia project will benefit from a 15-year Contract for Difference (CfD) awarded under Romania's inaugural CfD auction, a scheme designed and implemented with EBRD technical assistance. The energy produced from the other two solar power plants will be sold on Romania's competitive Day-Ahead Market, demonstrating the growing commercial viability of unsubsidised renewable energy in Romania.
Grzegorz Zielinski, EBRD Head of Energy Europe, stated: "We are pleased to support Nofar Energy's renewable investments in Romania. This financing demonstrates how we can scale up renewable investments and support Romania's ambition to add more than 10GW of renewable capacity by 2030." Favi Stelian, CEO of Nofar Energy Romania, said: "This partnership accelerates the deployment of new green energy assets and reinforces Nofar's role in advancing Romania's sustainability goals and regional energy security."
