Econergy closes €229M financing for 342MW solar-plus-150MW BESS in Romania

Independent power producer (IPP) Econergy has signed financing agreements for its Părău 2 solar and energy storage project in Brașov County, Romania.

Announced 14 August, Econergy signed the agreements for the 342MW solar PV and 150MW battery energy storage system (BESS) project with a six-lender consortium comprising the European Bank for Reconstruction and Development (EBRD), the Black Sea Trade and Development Bank (BSTDB), Exim Banca Românească S.A., NLB d.d., OTP Bank Plc and Banca Comercială Intesa Sanpaolo România, for an aggregate financing package of approximately EUR€229 million (US$265 million).

Econergy also stated that Părău 2 secured the largest capacity award in Romania’s Contracts for Difference (CfD) mechanism, 125MW at US$57.18/MWh for 15 years from commercial operation, expected in late 2027 or early 2028.

Romania launched its second CfD round in 2025. The first round was more than three times oversubscribed with 1.6GW of bids made for PV capacity.

According to Econergy, approximately US$132 million of the main facility is supported by an InvestEU guarantee. Financial closing is expected within approximately three months, and drawdown remains subject to customary conditions under the financing agreements precedent, which the company estimates will be satisfied within approximately three months of signing.

Părău 2 is currently under construction and expected to enter commercial operation in late 2027 or early 2028. Once operational, Econergy claims the 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.

Our colleagues at PV Tech reported in October 2025 that Chinese engineering firm Shanghai Electric had signed an engineering, procurement, and construction (EPC) agreement with Econergy for Părău 2. Shanghai Electric also worked on phase one of the project which was commissioned in 2024.

Romania has relatively recently become one of Europe’s most active BESS markets. Activity accelerated with gigawatt-level announcements, led by Enery’s US$530 million financing for its 761MW solar and 1GWh-plus BESS Ogrezeni project, set to become one of Europe’s largest hybrid projects.

In July, London-headquartered BESS developer Alcemi acquired 1,200MWh and 1,100MWh BESS projects in Romania. The same month, Energy-Storage.news reported on project developments in the country from Pan-European battery storage and renewables platform Aukera, Romanian energy solutions provider ENEVO Group, and PPC Renewables Romania, part of the Greek state-owned Public Power Corporation (PPC).

ESN spoke with Joshua Murphy, head of energy storage for Econergy, at the Energy Storage Summit 2026 in London in February.

Murphy noted, “In Romania, we have a pretty significant operating pipeline of solar PV and we’re going through a hybridisation strategy to add battery storage to all of those.”