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April 19, 2021

EBRD finances its first solar energy project in Romania

The European Bank for Reconstruction and Development (EBRD) continues to invest in renewable energy production in Romania, with its first financing of a solar energy project in central and south-eastern Europe. EDP Renovaveis (EDPR), a global leader in the renewable energy sector, will receive a loan of EUR 20 million towards the construction and operation of six solar photovoltaic (PV) parks totalling 50 MW in the southern Romanian region of Oltenia, a press release informs. A parallel facility of EUR 10 million will be provided by the Black Sea Trade and Development Bank (BSTDB). Solar PV generates electricity in over 100 countries and is one of the fastest-growing power-generation technologies. The current solar energy capacity of Romania is 1,158 MW, equivalent to providing electricity for over 100,000 homes. “The financing of the EDPR solar project is the third transaction completed in Romania’s energy sector since the beginning of 2014. Including the EDPR Solar project, we have already invested close to EUR 200 million in the Romanian energy sector this year”, Riccardo Puliti, EBRD Managing Director for Energy and Natural Resources said during a recent visit to Bucharest.

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