Israeli renewable energy developer Econergy Renewable Energy has arranged 31 million euros in debt financing to support the construction of a solar power plant in Romania. The funding agreement was concluded with Austrian financial institution Kommunalkredit, which will provide the loan for the project.
The financing will primarily cover construction and development costs for the Ovidiu solar power plant, a 60 MW facility currently under development. Part of the funds will also be used to refinance shareholder loans previously deployed to advance the project. The plant is planned to integrate a battery energy storage system, reflecting Econergy’s strategy of combining renewable generation with storage solutions. Battery construction is expected to start toward the end of 2026.
Romania has become a key market for Econergy as the company expands its presence across Europe. The group develops renewable energy projects across multiple technologies, including solar, wind, and energy storage, with a development portfolio exceeding 13 GW.
The company has recently strengthened its Romanian market position through additional investments. Earlier, it secured €40.5 million in financing for the 87 MW Oradea solar project in northwestern Romania. Econergy also signed a power purchase agreement covering 200 MW of capacity from its Ratesti and Parau solar developments.
