The European Bank for Reconstruction and Development (EBRD) has committed €12.2 million to support the construction of two new solar power plants in Romania’s Dolj County. This investment is part of a larger €24.4 million financing package aimed at enhancing renewable energy infrastructure in the country and helping Romania achieve its renewable energy targets.
The funding will be used by Danube Solar Five, a special-purpose vehicle established in Romania, owned by Lithuania’s INVL Renewable Energy Fund I and managed by UAB INVL Asset Management. INVL, a major player in the energy and infrastructure sectors across the Baltics and Eastern Europe, is investing alongside Eiffel Investment Group, which is contributing an additional €12.2 million to the project.
The solar power plants, located in Robanesti and Pielesti, are set to have a combined installed capacity of 60 MW. This investment is expected to play a crucial role in Romania’s efforts to meet its renewable energy goals, as outlined in the EU’s Fourth Energy Package and the Fit for 55 and REPowerEU plans.
Romania has recently made strides in improving its regulatory environment for renewables, including the full liberalisation of its energy market in January 2021. The country aims to increase the share of renewables in its total energy consumption from 24.3% in 2019 to 36.2% by 2030, requiring the addition of 11.9 GW of new renewable capacity.
The EBRD’s financing also highlights the growing use of limited recourse construction bridge facilities (CBFs) in the renewable sector. These innovative financing structures are designed to mitigate construction and development risks, which are crucial for attracting additional investment in the green transition.
“While CBFs are well-established in Western Europe, this is only the second such facility in Romania. The EBRD’s involvement is expected to demonstrate the viability of these structures and encourage other financiers to invest in the country’s renewable energy sector,” said Grzegorz Zielinski, EBRD Head of Energy Europe.
To date, the EBRD has invested nearly €11 billion in 533 projects across Romania, reinforcing its long-standing partnership with the country and its commitment to advancing sustainable energy solutions.
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 is providing €12.2 million to fund the construction of two solar power plants in Romania. This investment supports Romania's ambitious renewable energy targets and highlights the growing role of limited recourse financing in the green transition.){kind=link}