The six-lender consortium consists of the European Bank for Reconstruction and Development (EBRD), the Black Sea Trade and Development Bank (BSTDB), Exim Banca Românească SA, NLB dd, OTP Bank Plc and Banca Comercială Intesa Sanpaolo România,
Părău 2 will combine a 342 MWp solar photovoltaic power plant with 150 MW of co-located battery energy storage system. The battery system will allow electricity generated on site to be stored and dispatched when the grid needs it, supporting the integration of renewable energy and improving the flexibility of Romania's electricity system.
The project also secured the largest capacity award in Romania's CfD mechanism, 125 MW(ac) at 49.4 euros per MWh for 15 years from commercial operation, expected in late 2027 or early 2028, locking in long-term revenue stability and a strong financing profile.
Approximately 14.4 million euros of the main facility is supported by an EUInvest guarantee. Financial close is expected in approximately three months' time.
Currently under construction, Părău 2 is expected to enter commercial operation in late 2027 or early 2028. Once operational, the project is expected to increase Romania's renewable electricity generation capacity, reduce greenhouse gas emissions and support the reliability of the national power system.
“Securing 229 million euros on Părău 2 is a milestone for Econergy and for the Romanian market” said Eyal Podhorzer, CEO of Econergy. “Six leading international lenders committed to our flagship project on terms that reflect their confidence in how we build and operate, and that gives us the platform to move on the rest of our European pipeline.”
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