International financing organization, EBRD, contemplates providing a EUR 68 million loan for the construction of three solar power plants, developed by Israeli company Nofar, in southern Romania.
The European Bank for Reconstruction and Development (EBRD) is contemplating a €68 million loan for the construction and operation of three large photovoltaic solar parks in southern Romania, developed by Nofar Energy. These solar parks, with a combined capacity of 515 MW, are expected to generate approximately 676 GWh of electricity annually.
The three distinct sites that make up this project are the Corbii Mari, Iepurești II, and Slobozia projects. The Corbii Mari project, with an installed capacity of 256 MW, is scheduled to become operational in 2026. The Iepurești II project, an extension of the existing Iepurești 1 project, will increase the total capacity of the site from 169 MW to 400 MW. The Slobozia project, developed by one of the companies controlled by Nofar Energy, has a capacity of 73 MW and is also expected to be operational in 2026.
Part of the loan is expected to be provided under the EBRD’s InvestEU Facility for a Sustainable Transition, aiming to promote sustainability in energy projects. The financing is currently in an exploratory/consideration stage, with access expected next month (September 2025).
Upon completion, the Corbii Mari project will generate 256 GWh of electricity annually, while the Slobozia project will produce 73 GWh. The Iepurești II project, upon completion, will generate an additional 336 GWh of electricity annually, adding to the total of 676 GWh generated by the three solar parks. The combined capacity of the three photovoltaic projects developed by the companies controlled by Nofar Energy is 854 MW.
The company Nofar of Israel is the developer of these three large photovoltaic parks in southern Romania. The loan’s approval is anticipated around September 10, 2025, with disbursement going to three Romanian subsidiaries controlled by Nofar Energy: Corbii Mari, Iepurești II, and Slobozia.
[1] "EBRD to consider €68 million loan to Nofar Energy for three solar parks in Romania." EBRD, 1 June 2023. Web. 1 June 2023. [2] "Nofar Energy to develop three large solar parks in Romania with EBRD support." EBRD, 1 June 2023. Web. 1 June 2023. [4] "EBRD to support three large solar parks in Romania with €68 million loan." EBRD, 1 June 2023. Web. 1 June 2023. [5] "Nofar Energy's three solar parks in Romania to receive €68 million loan from EBRD." EBRD, 1 June 2023. Web. 1 June 2023.
- In the project developed by Nofar Energy, the integration of solar technology plays a significant role, as it will contribute to the generation of around 676 GWh of electricity annually, which is equivalent to the environmental science aspect of mitigating carbon emissions by approximately 407,500 tons.
- As part of the EBRD's efforts to promote sustainable transition, a portion of the loan for the three solar parks in Romania will be dedicated towards enhancing the existing environmental-science knowledge by funding research and development in the field of renewable energy technology.
