The European Bank for Reconstruction and Development has agreed to lend up to USD 138.60 million to support the construction and operation of a large-scale solar and battery storage facility in Romania's Brașov region, marking the first time the institution has financed a hybrid renewable energy project of this kind in the country.

Project Details and Scale

The financing will support Econergy's Părău 2 project, a 342 megawatt solar photovoltaic plant paired with a co-located 150 megawatt, 300 megawatt-hour battery energy storage system. The project is designed to increase renewable energy generation, improve grid flexibility and strengthen Romania's energy security.

The EBRD's contribution is structured as two loan components. The first is an A loan of up to USD 65.84 million, and the second is a B loan of up to USD 72.77 million, which includes a USD 4.16 million debt service reserve facility provided by commercial banks Privredna banka Zagreb and NLB.

The EBRD financing forms part of a larger aggregate debt package totalling up to USD 264.55 million, with co-financing coming from the Black Sea Trade and Development Bank, OTP Bank and Exim Banca Românească.

EU Backing Through InvestEU

The European Union is providing additional support to the transaction through a first-loss guarantee under its InvestEU programme. The guarantee covers up to USD 132.83 million and is intended to mitigate risks tied to the project's significant exposure to merchant revenue, where electricity is sold at market rates rather than under a fixed-price contract.

Georgios Gkiaouris, the EBRD's Head of Energy Europe, said the project represents an important step in Romania's energy transition. He described the InvestEU guarantee as an example of how public and private partners can work together to mobilise financing for the green transition and credited the structure as helping to increase renewable energy generation while supporting a more resilient and flexible electricity system.

Merchant Risk and Contract for Difference Scheme

Not all of the project's revenue will come from merchant sales. The solar plant has secured a 125 megawatt alternating current allocation through Romania's Contract for Difference scheme, which was developed with technical assistance from the EBRD and is designed to unlock 5 gigawatts of solar and onshore wind capacity.

Under the scheme, the project secured a strike price of USD 57.07 per megawatt-hour for a period of 15 years. The remaining capacity beyond the allocated 125 megawatt alternating current portion will operate on a merchant basis, exposed to prevailing market prices.

Separately, Intesa Sanpaolo and Exim Banca Românească will jointly provide a USD 28.88 million value-added-tax facility and a USD 10.97 million letter-of-credit facility to support the project's obligations under the Contract for Difference scheme.

Role of Battery Storage

The pairing of solar generation with on-site battery storage is central to the project's design and its intended contribution to Romania's electricity system. According to the EBRD, the battery energy storage system will help shift solar output to periods of higher electricity demand and will support Romania's ancillary and balancing services.

The institution said this will make the grid more flexible and reduce reliance on fossil fuels for peaking capacity, which refers to the generation assets typically brought online during periods of peak demand.

The combination of solar and storage is intended to address one of the core challenges of integrating variable renewable power into a national grid, namely the mismatch between when solar panels generate electricity and when demand for that electricity is highest.

A Milestone for Econergy and Romanian Market

Eyal Podhorzer, Chief Executive Officer of Econergy, described the closing of USD 264.55 million in financing as a milestone for both the company and the Romanian energy market.

He said the EBRD's involvement was decisive in assembling a consortium of six international lenders and that the terms of the financing reflect lender confidence in the company's construction and operational track record. Podhorzer added that the transaction gives Econergy a platform to advance the rest of its European pipeline.

EBRD's Broader Presence in Romania

The Părău 2 deal adds to a substantial existing commitment by the EBRD in Romania. The institution has invested more than USD 14.67 billion in the country through more than 600 projects to date, making it one of the leading institutional investors in the Romanian market.

The announcement, dated 14 August 2026, specifically highlights the hybrid nature of the Părău 2 project as a first for the EBRD's portfolio in Romania, distinguishing it from previous renewable energy financing the bank has undertaken in the country.

Powering Your Pipeline: Stay Ahead of Romania's Energy Project Landscape

Every megawatt of opportunity in Romania's evolving power sector has a timeline, a tender, and a decision-maker behind it, and the organisations that act on that intelligence first are the ones that win the work.

The Global Project Tracking (GPT) platform by Blackridge Research gives power sector professionals a single, structured source of truth across the entire Romania market. Whether you are targeting grid expansion programmes, renewable energy installations, or conventional generation upgrades, GPT delivers the project intelligence you need at every stage of development.

From early-stage planning signals to awarded contracts and active construction sites, the platform ensures your business development team is never caught off guard by a competitor or a missed opportunity across Romania's dynamic energy landscape.

• Upcoming Projects

• Tender Notices

• Contract Awards

• Projects Under Construction

• Completed Projects

To see how the Global Project Tracking (GPT) platform by Blackridge Research can sharpen your strategy across Romania's power sector, Book a Free Demo with our team today.