Unigea Solar Projects Romania has reached financial close on an 85MW photovoltaic project in Arad, Transylvania.
The €30.25m development financing for the Helios 1 solar project was secured in a deal with Kommunalkredit Austria.
The financing will be allocated towards the development, construction, and operation of the solar farm.
“We are delighted to have supported Unigea Romania in successfully realising this project, which makes an important contribution to the country’s green transition,” said Volker Kruse, head of banking at Kommunalkredit.
“This transaction underscores Kommunalkredit’s strong role in financing greenfield renewable energy projects in Romania – and our position as a trusted partner for Austrian developers expanding into the Romanian market.”
Upon completion, the Helios 1 Arad PV Park is set to become the largest east-west-oriented solar power generation complex in Eastern Europe.
Strategically located near the former CET Arad coal-fired power plant, the PV arrays will be installed across a 68-hectare site, repurposing an area that previously served as the former plant’s ash disposal facility.
Unigea Romania acquired the PV project in its ready-to-build phase in early 2024 and commenced the construction of a new substation in mid-2024.
The coming months will be focused on the construction of the 85MW park, with commercial operations scheduled to begin in the first quarter of 2026.
Unigea Romania is a subsidiary of Berlin-based Unigea Solar Projects GmbH.