The European Bank for Reconstruction and Development (EBRD) is strengthening Romania’s energy security by arranging a €192 million financing package to support the construction of three major solar power plants in the south-eastern region of the country. Together, these plants will add 531 MW of new renewable energy capacity to Romania’s power system. As part of the financing package, the EBRD will provide €64 million from its own resources for the development of the Slobozia, Corbii Mari, and Iepuresti II solar power plants. The remaining €128 million will be mobilised from commercial lenders, demonstrating the strong interest of the private sector in Romania’s renewable energy market.

These new solar facilities represent an important step in Romania’s efforts to reduce carbon emissions and increase the share of renewable energy in its national energy mix. Located across Dâmbovița and Giurgiu counties, the plants are expected to generate around 676 GWh of clean electricity every year. This renewable power output will help avoid approximately 280,000 tonnes of CO₂ emissions annually, supporting Romania in its goal of reaching 38 per cent renewable energy in its total consumption by 2030.

One of the projects, the Slobozia solar plant, will operate under a 15-year Contract for Difference (CfD), awarded in Romania’s first-ever CfD auction. The scheme was developed with technical support from the EBRD to provide long-term price stability for renewable energy investments. The electricity produced by the Corbii Mari and Iepuresti II plants, however, will be sold directly on Romania’s competitive Day-Ahead Market, highlighting the increasing commercial competitiveness of unsubsidised renewable projects in the country.

Romania’s two-way CfD system, launched in 2024 with EBRD assistance, has already awarded 4.2 GW of new solar and wind capacity—far beyond the national target of 3.5 GW outlined in the Recovery and Resilience Plan (RRP). This mechanism is helping accelerate renewable energy deployment by offering developers long-term financial certainty and promoting the deeper market integration of clean energy.

Commenting on the financing agreement, Grzegorz Zielinski, EBRD Head of Energy Europe, said: “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 10 GW of renewable capacity by 2030.”

Favi Stelian, Chief Executive Officer of Nofar Energy Romania, added: “We are pleased to announce this second financing with EBRD, which strengthens confidence in our long-term vision and our ability to deliver impactful renewable infrastructure in Romania. 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.”

The three solar power projects are majority owned by OY Nofar Energy, an Israeli renewable energy company listed on the Tel Aviv Stock Exchange. The EBRD remains one of the most active investors in Romania’s energy and infrastructure development. To date, the bank has invested more than €12 billion in 576 projects across the country, supporting Romania’s transition to a cleaner, more secure, and more resilient energy future.

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