The European Bank for Reconstruction and Development said it is considering extending a loan of up to EUR 55 million for the construction of 315 MW of solar parks in Romania.

The contemplated senior loan is due to be approved on March 6, The financing will be provided to local companies RTG Solar Energy SRL and Solis Imperium SRL, which have proposed to build two photovoltaic parks in southeastern Romania. 

Both project vehicles are owned by Israeli company Nofar Energy, which last December placed an order with China’s LONGi Solar for 576 MW of projects in Romania.

The solar farms are expected to have a combined electricity output of 400 GWh annually and will help offset 170,000 tonnes of carbon dioxide emissions annually.