Helsinki-based investor Korkia and Romanian renewables developer Econous Green Energy have announced plans to develop 600 MW of solar energy in Romania.

According to a statement by Korkia, initial projects under the partnership are expected to be licensed and will be ready for construction in 2025.

Once operational, the solar projects are expected to generate enough renewable energy for approximately 200,000 European households.

Peter Goitanich, investment director at Korkia, said Romania is now on track to become a renewable energy hub in southeastern Europe.

“Romania’s renewable energy development sector is now attracting an increasing number of international investors,” Goitanich said. “The country is in a very good position to increase its capacity, and the government has set ambitious growth targets.”

About 40% of Romania’s energy currently comes from carbon-based sources, but the country is accelerating its transition to renewable energy.

The country, buoyed by a €3 billion ($3.9 billion) funding package that was recently approved by the European Commission, will soon launch its first renewables auction under a contract-for-difference scheme.

Romania aims to generate 36% of its energy from renewables by 2030 and has set a target of deploying 8.3 GW of solar by the same year. It hit 2.6 GW of solar capacity at the end of last year.