Econergy Renewable Energy, an independent renewable energy power producer, signed a €40.5 million (~$47 million) project finance agreement with UniCredit Bank for its 87 MW Oradea solar project in the Crișana region in north-west Romania.
The project has been fully connected to the grid and has been generating revenue since August 2025.
The financing package will be used to refinance the loans that funded the project’s construction, among other purposes.
According to the company’s strategy to hybridize its Romanian solar portfolio, it plans to add a 68 MW battery energy storage system component to the Oradea solar project site.
The expected investment for the storage component is approximately €21 million (~$24.38 million), with an estimated annual revenue contribution of €8.4 million (~$9.7 million) and an EBITDA contribution of €6.7 million (~$7.77 million).
This transaction marks the second project financing agreement with UniCredit.
The company previously secured approximately €58 million (~$68 million) in financing to support a portfolio of 64.3 MW of solar projects in Italy in September 2025. The portfolio comprises 12 solar projects. Eco Holdco 1, wholly owned by EcoGreenDev (Lux) and jointly held by Econergy International and INFRAGREEN, signed a project finance agreement with UniCredit, which acted as global coordinator & bookrunner and as the structuring mandated lead arranger.
In December 2024, Econergy announced the signing of a project financing agreement valued at approximately €38 million (~$39.61 million) with Raiffeisen Bank International AG, a European financial institution.
According to Mercom’s 9M and Q3 2025 Solar Funding and M&A report, large-scale project funding increased by 43% in the first nine months of 2025 compared with the same period in 2024.
In November 2025, Earthrise Energy, an independent renewable energy power producer, announced the closing of a $360 million financing package to support the continued development of the company’s co-located solar project portfolio. The facility will also refinance its existing thermal portfolio debt.
