The European Bank for Reconstruction and Development (EBRD), which has been instrumental in supporting Romania’s renewable energy ambitions, is providing a senior secured loan of up to EUR 34 million to Solar World, RB Solar Energy and Energie Soleil for the development, construction and operation of two solar power plants in the southern part of Romania.

The project will be co-financed by the European Investment Bank (EIB) with a senior loan of up to EUR 34 million and by Banca Comerciala Romana (BCR) with a senior loan of up to EUR 17.5 million.

The three new Romanian companies are 65 per cent owned by Norway-based renewable energy developer Scatec ASA, with the remaining 35 per cent held by Turkish engineering services provider Defic Globe Energji AS. The project represents Scatec ASA’s entry into the Romanian renewables sector.

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