International Financial Organization, the European Bank for Reconstruction and Development, explores a EUR 68 million loan for three solar energy projects managed by Israeli firm Nofar, situated in southern Romania.
In a significant move towards Romania's green energy transition, Israeli company Nofar Energy is set to receive a €68 million loan from the European Bank for Reconstruction and Development (EBRD). This financing will be used to construct and operate three solar parks in the Muntenia region of southern Romania, with a combined capacity of 515 MW.
The solar parks, scheduled to become operational in 2026, include the Corbii Mari Solar Plant SRL (256 MW), the Aviv Renewable Investment SRL's Iepurești II project (an extension of the existing Iepurești I project, bringing its total capacity to 400 MW), and the Slobozia Solar Plant SRL (73 MW).
Part of the financing for this project is expected to come under the EBRD’s InvestEU Facility for a Sustainable Transition, supporting climate goals and the private renewable sector presence in Romania.
Upon completion, these solar parks will contribute an additional 73 MW to the total capacity, generating approximately 676 GWh of electricity annually. This substantial renewable energy addition will support Romania’s climate change mitigation goals and energy transition by increasing solar photovoltaic capacity.
The loan, currently under consideration, is expected to be approved on September 10, 2025. The timeline for the projects sees the Corbii Mari and Slobozia solar parks becoming operational in 2026, while the Iepurești extension aims for completion shortly following the initial Iepurești grid connection happening in 2025.
This EUR 68 million financing package represents a significant step in expanding large-scale photovoltaic capacity in southern Romania driven by Nofar Energy, an Israeli company that already operates the largest photovoltaic park in Romania. The total capacity of the three projects, upon completion, will be 654 MW.
The Iepurești II project, upon completion, will have a total capacity of 400 MW, doubling the capacity of the original Iepurești 1 project. The Slobozia project, like the other two projects, is expected to become operational in 2026.
This project comprises three distinct sites, each contributing to Romania’s renewable energy goals and reinforcing private sector involvement in Romania’s renewable energy market.
The EBRD's funding for Nofar Energy will not only boost technology in Romania through the construction of three solar parks, but also strengthen the private sector's presence in environmental-science, as the projects aim to increase solar capacity and support Romania's climate change mitigation goals. Furthermore, the financing from finance sources such as the InvestEU Facility for a Sustainable Transition will impact the economy by generating significant amounts of electricity annually and contributing to the country's total energy capacity.
