Econergy connects 87 MW Oradea solar in Romania

Econergy Renewable Energy has connected its 87 MW Oradea solar PV project in Romania to the national grid.

The Oradea facility, managed indirectly via Econergy International Limited, marks the company’s fourth operational solar park in Romania, increasing its combined connected and near-ready capacity to 447 MW. In line with its strategy to pair solar generation with storage, Econergy intends to install a 68 MW battery energy storage system (BESS) at the site. The project was carried out in collaboration with Phoenix Holdings, which has already invested over €225 million across Econergy’s developments in both Romania and Poland.

The Oradea solar project reflects a 51% ownership stake for Econergy, developed in partnership with Phoenix Holdings. The total construction cost amounted to approximately €62.4 million (excluding financing and VAT), with Econergy contributing around €29.8 million in equity. The company also generated €0.8 million in revenues from EPCm services through Econergy International and expects to secure about €0.3 million annually from ongoing asset management services. Once operational, the project is forecast to deliver around €7.5 million in yearly revenues from electricity sales, generating an estimated €6.0 million in annual EBITDA and €4.0 million in annual funds from operations (FFO). 

Econergy also plans to install a 68 MW co-located battery energy storage system (BESS) at the Oradea site, representing an estimated investment of around €19 million. Once completed, the storage facility is expected to generate an additional €7–9 million in annual revenues and contribute approximately €4–5 million in annual EBITDA. The Oradea project marks Econergy’s fourth operational asset in Romania, further reinforcing its role as a leading independent power producer (IPP) in the country.