EBRD to lend 20 mln euro for 50 MW solar project in Romania

The European Bank for Reconstruction and Development (EBRD) said on Thursday it is providing a 20 million euro ($27.6 million) loan for the construction of six solar parks with a combined installed capacity of 50 megawatts (MW) in Romania.

The loan will be granted to EDP Renovaveis, the green energy subsidiary of Portuguese power utility EDP, for the construction and operation of the photovoltaic parks in the southern Romanian region of Oltenia, the EBRD said in a statement.

A parallel facility of 10 million euro will be provided by the Black Sea Trade and Development Bank.

This is the fourth joint project between the EBRD and EDP Renovaveis in Romania, following an earlier investment in three wind farms. So far, the EBRD has provided finance for the construction and operation of five wind farms in the country.

The EBRD has so far invested 169 million euro in developing Romania's renewable energy market. Including EDP Renovaveis' solar project, the EBRD has already invested close to 200 million euro in the Romanian energy sector this year.

Romania has a solar energy capacity of 1,158 MW.

($=0.7255 euro)

Choose your newsletter by Renewables Now. Join for free!