Nofar Energy, an Israeli renewable energy company listed on the Tel Aviv Stock Exchange, secured a €192 million (~$223.05 million) financing package for the development and construction of three solar projects totaling 531 MW in southeastern Romania.
The European Bank for Reconstruction and Development (EBRD) will provide €64 million (~$74 million) for the construction of the Slobozia, Corbii Mari, and Iepuresti II solar projects, with the remaining €128 million (~$149 million) mobilised from commercial lenders. Nofar Energy owns the majority of these solar projects.
The projects are located in Dâmbovița and Giurgiu counties and are expected to produce approximately 676 GWh of green electricity annually, which is expected to contribute to Romania’s goal of reaching 38% of gross final energy consumption from renewables by 2030.
Favi Stelian, Chief Executive Officer of Nofar Energy Romania, said: “We are pleased to announce this second financing with EBRD, which strengthens confidence in our long-term vision and our ability to deliver impactful renewable infrastructure in Romania. This partnership accelerates the deployment of new green energy assets and reinforces Nofar’s role in advancing Romania’s sustainability goals and regional energy security.”
The Slobozia project will operate under a 15-year Contract for Difference (CfD), secured during Romania’s first-ever CfD auction, a mechanism designed and implemented with the support of the EBRD. In contrast, electricity from the Corbii Mari and Iepuresti II solar plants will be traded directly on Romania’s competitive Day-Ahead Market, highlighting the increasing market readiness and commercial appeal of unsubsidised renewable power.
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, N-Sun Energy, a solar development platform created by Alantra Solar, signed a €355 million (~$408 million) green financing agreement with Intesa Sanpaolo, through its Italian subsidiary N-Sun Energy Advisors Italy 2.
