The European Investment Bank (EIB) is committing €34 million for an expansion of solar-power production in Romania, the bank said in a statement. The EIB financing will support the construction and operation in southwestern Romania of three photovoltaic plants that will have a combined capacity of 190 megawatts—enough to power more than 160,000 homes in the country.
The planned production sites are in the counties of Olt and Dolj, which are in the Oltenia region that borders Bulgaria and the Danube River. With construction set to begin this month and full commercial operations due to start in September 2027, the project will help Romania and the European Union fight climate change, increase energy independence, and strengthen regional development.
The EIB support involves loans totaling €34 million to three Romanian solar companies that are owned 65 percent by Norway-based renewable-energy developer Scatec ASA and 35 percent by Defic Globe BV. The EIB credit is part of a €121 million financing package. The European Bank for Reconstruction and Development and Romanian lender BCR are also financing this project.
The new plants, which together are among Romania’s biggest solar projects, will speed the country’s transition away from fossil fuels. Two of the three planned solar plants have already secured Contracts for Differences via the CfD auction conducted by the Government in 2024, covering around two-thirds of the project’s expected output for almost 15 years.
“Accelerating renewable-energy investment is key for Europe’s economic strength, energy security, and climate ambitions,” said EIB Vice-President Ioannis Tsakiris. “By supporting a significant new solar portfolio in Romania, we are helping to deliver clean, reliable, and affordable electricity while promoting economic cohesion.”
In the area of clean energy, the project supports a Romanian goal for renewables to account for more than 38 percent of final energy consumption by 2030 and EU renewables target of at least 42.5 percent over the same period.
