BSTDB Backs Large-Scale Solar and Battery Storage Project in Romania

EUR 30.1 million BSTDB loan forms part of an approximately EUR 229 million six-lender financing package for the Părău 2 project in Brașov County

The Black Sea Trade and Development Bank (BSTDB) is providing a EUR 30.1 million long-term loan to support the development of Părău 2, a large-scale solar and battery energy storage project in Brașov County, Romania. The BSTDB financing forms part of an approximately EUR 229 million package provided by a consortium of six lenders.

Developed by Econergy, Părău 2 will combine a 342 MWp solar photovoltaic power plant with a 150 MW co-located battery energy storage system. The battery system will allow electricity generated on site to be stored and dispatched when the grid needs it, supporting the integration of renewable energy and improving the flexibility of Romania's electricity system.

Once operational, the project is expected to increase Romania's renewable electricity generation capacity, reduce greenhouse gas emissions and support the reliability of the national power system.

Părău 2 has also secured the largest capacity award in Romania's Contracts for Difference (CfD) mechanism, 125 MW(ac) at EUR 49.4/MWh for 15 years from commercial operation, expected in late 2027 or early 2028, locking in long-term revenue stability and a strong financing profile.

The financing consortium comprises the European Bank for Reconstruction and Development (EBRD), BSTDB, Exim Banca Românească S.A., NLB d.d., OTP Bank Plc and Banca Comercială Intesa Sanpaolo România together with its subsidiary Privredna banka Zagreb d.d. A significant share of the financing benefits from guarantee support under the European Union's InvestEU programme.

Dr. Serhat Köksal, President of BSTDB, said: "The Părău 2 project represents a significant investment in Romania's energy infrastructure. BSTDB is pleased to join a strong group of international and commercial lenders in supporting a project that combines large-scale renewable generation with energy storage. The operation reflects our commitment to sustainable infrastructure, energy security and private-sector investment across the Black Sea region."

Eyal Podhorzer, CEO of Econergy, commented: "Securing €229 million on Părău 2 is a milestone for Econergy and for the Romanian market. Six leading international lenders committed to our flagship project on terms that reflect their confidence in how we build and operate, and that gives us the platform to move on the rest of our European pipeline."

Econergy Group (TASE: ECNR) is a leading European IPP and active developer specializing in solar PV, Wind, and Energy Storage projects across key European markets, including Germany, the UK, Italy, Spain, Romania, Poland, and Greece. With a robust pipeline project exceeding ~13GW, Econergy is at the forefront of driving Europe's renewable energy transition. The company's local teams provide a strategic advantage, ensuring close collaboration with regulatory entities and local communities. Econergy generates revenue across the entire value chain by selling electricity, earning development and operation fees, and selling projects at various stages of development, ensuring a diversified and sustainable income stream.

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion.

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