DRI has secured up to €60m from UniCredit and Garanti BBVA to build the 126MW Vacaresti solar park in Dambovita County, Romania.
The deal marks DRI’s first internationally led syndicated financing, first certified green loan and first multi-currency loan.
The non-recourse package includes construction and term loans, a VAT facility, debt service reserve facility and LC facilities, aligned with Green Loan Principles and the EU Taxonomy Alignment Criteria.
Construction of Vacaresti began in January 2025 and the project is due online in autumn.
From January 2027, DRI will sell half of the site’s output to OMV Petrom under Romania’s largest physical solar PPA, signed last December.
CEO Ivan Geliukh said the agreement was an important achievement for both DRI and Romania, demonstrating the company’s ability to work with major financial institutions.
Vacaresti will produce enough clean energy to power about 50,000 homes and cut 48,600 tonnes of CO2 annually.
In Romania, DRI operates three other projects totalling 173MW, while its wider portfolio across priority markets stands at 1.3GW.