The European Investment Bank (EIB) has committed approximately €34 million to support the construction and operation of three solar projects in southwestern Romania. The projects will have a combined capacity of 190 MW and are expected to generate enough electricity to supply more than 160,000 households. They will be located in the Olt and Dolj counties in the Oltenia region, near the Danube river and the Bulgarian border.
Construction is scheduled to begin this month, with full commercial operations targeted for September 2027. The financing will be extended as loans to three Romanian solar companies owned 65 per cent by Scatec and 35 per cent by Defic Globe. The EIB funding forms part of a broader financing package worth around €121 million.
Furthermore, additional funding is being provided by the European Bank for Reconstruction and Development and Romanian lender Banca Comercială Română. Two of the three projects have already secured Contracts for Difference through a government auction held in 2024, covering nearly two-thirds of the anticipated generation for about 15 years. Romania’s renewable energy goal includes increasing renewable’s share in final consumption to above 38 per cent by 2030.
