Business Forum • 16 March, 2026 at 1:30 PM
Israeli developer Econergy Renewable Energy has secured €31 million in project financing from Kommunalkredit for its 60MW Ovidiu solar project in Romania.
The financing will cover development and construction costs and refinance shareholder loans, supporting the project until commercial operation. "In line with the hybridisation strategy for the Romanian portfolio, the company intends to add a battery energy storage system (BESS) to the Ovidiu site, with construction estimated to begin by the end of the year," the company said.
This marks the second project financing agreement with Kommunalkredit, following the Iancu Jianu project financing, highlighting the bank's continued confidence in Econergy's project quality, execution capability and financial structure in the Romanian market.
Romania remains a key growth market for Econergy, with the company maintaining a diversified portfolio of solar and storage projects at various development and construction stages. The Ovidiu project financing strengthens the company's capital structure and reinforces its strategy of expanding bankable renewable energy projects in Europe.
Econergy Group has a development pipeline exceeding 13GW.