The European Bank for Reconstruction and Development (EBRD) is bolstering Romania’s energy security by arranging a €192 million financing package for three new solar power plants developed by Nofar Energy, with a combined capacity of 531 MW in south-eastern Romania. The EBRD will provide €64 million for its own account, while the remaining €128 million will be mobilised from commercial lenders.
The Slobozia, Corbii Mari, and Iepurești II solar plants, located in Dâmbovița and Giurgiu counties, are expected to generate around 676 GWh of green electricity annually, cutting approximately 280,000 tonnes of CO₂ emissions each year. This contribution aligns with Romania’s goal of sourcing 38% of its gross final energy consumption from renewables by 2030.
The Slobozia project will benefit from a 15-year Contract for Difference (CfD) awarded under Romania’s first CfD auction, a scheme designed with technical support from the EBRD. Energy from the other two plants will be sold on Romania’s competitive Day-Ahead Market, highlighting the increasing commercial viability of unsubsidised renewable energy in the country.
Grzegorz Zielinski, EBRD Head of Energy Europe, said the financing demonstrates how renewable investments can scale up while supporting Romania’s ambition to add more than 10 GW of renewable capacity by 2030. Nofar Energy Romania CEO Favi Stelian added that the partnership accelerates the deployment of green energy assets and reinforces the company’s role in advancing sustainability and regional energy security.
