Renewable energy specialist CCE Holding has launched the construction of a 40 MW solar park in Romania, planning to have it connected to the grid by the autumn of 2024.

Located in Arad county, the Horia 1 solar park will span 50 hectares, featuring 68,302 PV modules with a capacity of 590 W each, and will be capable of delivering green energy to over 25,000 households, CCE Holding said in a press release.

To finance the project, CCE has entered a partnership with Austria’s Raiffeisen Bank International (RBI) for an undisclosed amount. In addition to the partnership with RBI, the project is partially funded through Romania’s National Recovery and Resilience Plan, which is expected to bring total financing to 3 million euros ($3.3 million).

Bulgarian developer of solar energy solutions SolarPro Technology is in charge of building the solar power plant under an engineering, procurement, and construction (EPC) contract.

“CCE’s confidence in SolarPro confirms our commitment to offer innovative solutions and deliver exceptional results. We wish to have a positive impact on the renewable energy landscape in Romania. This project is only the first of many steps towards the energy transition in Europe, which we want to contribute to,” said SolarPro CEO, Krasen Mateev.

“The signing of these financing agreements also accelerates the progress made by CCE in its efforts to develop renewable energy in Romania and consolidates its position as a pioneer in the European energy transition,” Johannes Srajer, general manager of CCE Romania, added.

CCE currently has project rights for ten solar PV power plants in Romania with a total nominal capacity of 980 MW, according to the press release.