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 52.6m) loan to support the realisation of a 101-MW solar project in northwest Romania.

The financing was arranged with Raiffeisen Bank International AG, allowing the Israeli developer to either sell the facility’s output on the Romanian wholesale market or attract direct off-takers among local electricity traders and suppliers, Shikun & Binui said in a social media post on Monday.

The Simleu Silvaniei Project will be built by CJR Renewables as the construction contractor selected for the facility. It marks the Israeli firm’s second scheme in the Balkan country to reach financial close and see construction works started after the 71-MW Satu Mare project.

The Simleu Silvaniei site is expected to be equipped with 148,000 PV modules. The construction plan envisages the installation of about 360 fixed structures and about 13 concrete foundations, according to an earlier CJR statement.

“We see significant opportunities in the renewable energy sector in Romania and are strengthening our presence in the Romanian market with a substantial project pipeline exceeding 1.5 GW,” Shikun & Binui’s CE Didi Paz noted on Monday.

(EUR 1 = USD 1.075)

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