Nofar Energy has obtained EUR 110 million (US$122.5 million) in financing from the European Bank for Reconstruction and Development (EBRD) and Raiffeisen Bank International to build two solar projects in southeastern Romania.
The funds come from the EBRD and Vienna-based Raiffeisen Bank International. EBRD is providing a loan of EUR 55 million (US$ 60.7 million), matched by Raiffeisen Bank across two tranches of EUR 25 million (US$ 27.6 million) and EUR 30 million (US$ 33 million). The Iepuresti and Ghimpati solar projects will have a total capacity of around 300 MW. Together, they are expected to generate 386 GWh of renewable electricity per year. The electricity will be sold on the local market.
Country updates
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August 09, 2024
Funding secured for 60 MW solar plant in Romania
The European Bank for Reconstruction and Development (EBRD) and Eiffel Investment Group have provided EUR 24.4 million (US$ 26.6 million) in funding to the INVL Renewable Energy Fund I, run by Lithuan...
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August 08, 2024
OX2 sold 99 MW wind farm in Romania for USD 238 million
OX2 has closed an agreement to sell a 99.2 MW onshore wind project in Romania to Nala Renewables.
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July 15, 2024
Shikun & Binui arranges funds for 101-MW Romanian solar project
Israeli company Shikun & Binui Energy announced that it has secured a EUR 49 million (USD 52.6 million) loan to support the realization of a 101-MW solar project in northwest Romania. Raiffeisen...
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July 08, 2024
Power purchase agreement signed for output from 461 MW Vifor wind farm
Rezolv Energy, the Actis-backed independent power producer in Central and Southeastern Europe, through their project subsidiary First Looks Solutions S.R.L., has signed a 10-year virtual power pu...
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June 21, 2024
Rezolv signed PPA with Deutsche Telekom Group
The Deutsche Telekom Group has signed a cross-border Power Purchasing Agreement (PPA) with Rezolv Energy to offtake power from the 461 MW VIFOR wind farm located in Buzău County, Romani...
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