EBRD Provides 120 Million Euro Loan for Romania Solar Project

The European Bank for Reconstruction and Development provided a financing package of up to 120 million euros for the Părău 2 project in Brașov, Romania. The investment supports the development, construction, and operation of a 342 MW solar photovoltaic plant and a 150 MW/300 MWh battery storage system.

The EBRD contribution consists of a 57 million euro A loan and a 63 million euro B loan, with the latter including guarantees from Privredna banka Zagreb and NLB. This is part of a larger 229 million euro debt financing package that includes co-financing from the Black Sea Trade and Development Bank, OTP Bank, and Exim Banca Românească.

Additional support for the project comes from the European Union's InvestEU programme via a first-loss portfolio guarantee. The project also utilizes Romania's Contract for Difference scheme, which secured a 125 MWac allocation at a strike price of 49.4 euros per MWh for a period of 15 years.