The European Bank for Reconstruction and Development (EBRD) is backing Romania’s shift to clean energy with a €192 million financing package for three new solar power plants in the country’s southeast, the EBRD announced. The deal will fund projects with a combined capacity of 531 MW, with the EBRD putting up €64 million directly and mobilizing another €128 million from commercial lenders. The plants are expected to produce roughly 676 GWh of green electricity each year while cutting CO₂ emissions by around 280,000 tonnes.
Located in Dâmbovița and Giurgiu counties, the Slobozia, Corbii Mari, and Iepuresti II solar plants mark another step in Romania’s push to decarbonize its energy sector. The country aims to get 38 percent of its total energy from renewables by 2030, and these projects will help close that gap. Slobozia will operate under a 15-year Contract for Difference awarded in Romania’s first CfD auction—a scheme the EBRD helped design. The other two plants will sell power on Romania’s competitive Day-Ahead Market, showing that unsubsidized renewable energy is becoming commercially viable.
Romania’s two-way CfD scheme, launched in 2024 with EBRD support, has already awarded 4.2 GW in solar and wind capacity, beating the 3.5 GW target set under the country’s Recovery and Resilience Plan. The mechanism gives developers long-term revenue certainty, making it easier to attract investment while integrating renewables into the grid. Grzegorz Zielinski, EBRD Head of Energy Europe, said the bank is pleased to back Nofar Energy’s projects and noted the financing shows how renewable investments can scale up to meet Romania’s goal of adding more than 10 GW by 2030.
Favi Stelian, CEO of Nofar Energy Romania, called the deal the company’s second financing arrangement with the EBRD and said it strengthens confidence in their long-term strategy. “This partnership accelerates the deployment of new green energy assets and reinforces Nofar’s role in advancing Romania’s sustainability goals and regional energy security,” Stelian said. The solar projects are majority owned by Nofar Energy, an Israeli renewable firm listed on the Tel Aviv stock exchange.
The EBRD has been a major investor in Romania, channeling over €12 billion into 576 projects to date. The new financing underscores the bank’s commitment to boosting energy security and supporting the country’s transition to a low-carbon economy.
