The European Bank for Reconstruction and Development (EBRD) is supporting the expansion of renewable energy in Romania with a €90m loan to Engie.
The EBRD’s financing will enable Engie Romania to develop new renewable energy projects with a combined capacity of at least 250MW by 2028.
Engie Romania is part of the Engie Group, a multinational utility with operations across 31 countries.
Engie Group has invested over €2bn in Romania since the privatisation of Distrigaz Sud in 2005, mainly related to the gas distribution network and to renewable energy production.
“We are pleased to be partnering with Engie Romania for the first time to support its renewables ambitions and meeting the decarbonisation targets,” said Grzegorz Zielinski, the EBRD’s director of Energy Europe. “This investment reflects our continued commitment to the green transition in the region and lays the foundation for a strong long-term relationship built on shared decarbonisation goals.”
Engie Romania chief executive Nicolas Richard welcomed the financing from the EBRD. He said: “The EBRD’s support reinforces our ambition to expand our renewable energy portfolio, a core element of our decarbonisation strategy, and to provide customers with green energy.
“We are proud to join forces with the EBRD in shaping a greener and more resilient energy for the Romanian customers.”