Enery has secured

$541.93 million

in senior debt financing for the

Ogrezeni solar + BESS project

in Romania, signed on

December 24, 2025

. The facility was structured as full

project finance

, with

UniCredit

acting as sole global coordinator and leading a

club of eight banks

. Proceeds will fund construction and commissioning.

The key signal is not the size of the asset, but the timing and structure of the debt. Lenders are committing at scale to a hybrid project before construction ramps, indicating growing comfort underwriting

merchant-exposed solar paired with large-duration storage

in Eastern Europe under a clean project finance framework.

Ogrezeni combines a

761 MWdc / 534 MWac

solar PV plant with a

534 MW / 1,068 MWh

battery system in

Giurgiu County, Romania

. Construction began in

early 2026

, with energization targeted for

summer 2027

.

ENEVO Group

has been appointed EPC for PV and grid connection works, consolidating delivery responsibility.

From a commercial lens, this deal shows that lenders are prioritizing execution-ready hybrids with clear EPC scope and grid strategy over pure development optionality. Storage is no longer treated as an add-on; it is central to credit underwriting.

The broader signal is that Romania is moving from pipeline noise to bankable scale. Capital is following projects that can absorb volatility and deliver flexibility, and banks are now willing to size debt accordingly when structure and execution are tight.

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