ETIC Partners Invests €6.6 Million In EuroEnergy’s Solar Portfolio Near Bucharest, Marking Its First Romanian Investment And Third Under Energy Transition Europe II Fund

ETIC Partners (ETIC), on behalf of its Energy Transition Europe II fund, has announced its third investment, providing €6.6 million in junior debt to support EuroEnergy in the development of a portfolio of photovoltaic (solar) plants located near Lehliu, approximately 70 kilometers from Bucharest, Romania. The investment will also pave the way for a potential new project through the same platform, which will include the construction of a co-located photovoltaic and battery energy storage system. The Lehliu solar portfolio currently generates around 24 GWh of clean electricity each year, contributing to the mitigation of approximately 4,400 tons of CO2 equivalent emissions annually.

Each asset within this portfolio benefits from long-term incentive contracts with the Romanian government through tradable green certificates, ensuring stable and sustainable operations. EuroEnergy, founded in 2007, is an independent power producer (IPP) that owns and operates renewable energy assets, including both photovoltaic and wind projects. The company currently manages 110 MW of operating capacity across Greece, Romania, Poland, and Latvia. In addition to its existing operations, EuroEnergy is developing a portfolio of more than 650 MW across five European countries. It operates as one of the renewable energy subsidiaries of Libra Group, a global business group whose subsidiaries own and operate assets in nearly 60 countries across various sectors.

Romania’s renewable energy sector has been expanding rapidly in recent years. By the end of 2024, the country published the final version of its National Energy and Climate Plan (NECP), which aims to achieve a 38% share of renewable energy in its gross final energy consumption by 2030. This target is supported by two competitive auctions held in the last twelve months, through which Romania awarded a total of 4.2 GW of wind and solar projects under 15-year contracts for difference (CfDs). These developments highlight Romania’s increasing competitiveness in the renewable energy market and its strong commitment to scaling up clean energy deployment.

This transaction marks ETIC’s first investment in Romania and further strengthens its strategic position in the renewable energy sector in Eastern Europe. To date, ETIC, on behalf of its two managed funds, has invested in a diverse range of renewable projects in the region, including two 65-MWp solar assets in Hungary, a 42-MW wind power plant in Croatia, and three solar plants totaling 18 MWp in Romania. Additionally, a new investment is planned for two solar projects totaling 59 MWp in Hungary. Under its investment strategy, the fund aims to allocate at least 40% of its resources to renewable projects in Central and Eastern European countries that are members of the European Union.

The Energy Transition Europe II fund is a second-generation junior debt fund launched nine months ago and classified as an “Article 9” sustainable investment vehicle under European Disclosure regulations. It follows the same investment strategy as the first Energy Transition Europe fund, focusing on financing new renewable energy projects and refinancing existing ones through junior debt. The fund has a target size of €200 million, with typical investment amounts ranging between €5 million and €25 million. Its focus areas include photovoltaic, onshore wind, and energy storage projects.

Since 2021, ETIC has completed 15 transactions, funding over 620 MW of renewable generation capacity across Europe. Through this fund, ETIC aims to accelerate Europe’s decarbonization, particularly in Central and Eastern European Union member states where the demand for renewable energy is growing rapidly. The Energy Transition Europe S.C.A. II SICAV RAIF fund is a closed-end fund designed exclusively for professional investors. It is managed by Energie Management, a company fully owned by ETIC. The information provided does not constitute investment advice, solicitation, or an offer to buy or sell financial products, and the document is not contractual.

Gabriel Delmer, Investment Director of Energy Transition Europe II, commented, “This transaction illustrates our ability to swiftly deploy financing solutions tailored to our partners’ needs, even in evolving regulatory environments. ETIC’s first investment in Romania enables EuroEnergy, a leading independent power producer in the region, to optimize its financing structure and reinvest resources to support its ambitious growth plans.”

Daniel Radu, EuroEnergy’s Country Manager for Romania, added, “Our partnership with ETIC marks a significant milestone in EuroEnergy’s regional expansion strategy. By combining our local expertise with ETIC’s investment vision, we aim to advance the development of new photovoltaic and storage projects that contribute to Romania’s and Europe’s energy transition. ETIC’s investment reinforces confidence in our Romanian platform and strengthens our ability to continue expanding across Southeast Europe.”