The European Bank for Reconstruction and Development (EBRD) has announced that, together with Raiffeisen Bank International, it will provide a financing of €110 million for the construction and operation of two photovoltaic solar power plants in southeastern Romania.
Within the scope of the object, EBRD and Raiffeisen Bank will each provide €55 million for the Lepuresti and Ghimpati projects with a total installed capacity of around 300 MW by Nofar Energy. These power plants are expected to generate 386 GWh of renewable energy per year, allowing the country to reduce its carbon emissions by about 160,000 mt per year. Also, the generated energy will be supplied to the domestic market.
“These solar power plants will increase Romania’s renewable capacity, supporting the country’s ambition to add 11.9 GW of new renewable capacity by 2030,” Grzegorz Zielinski, head of Energy Europe at EBRD, stated.