The European Bank for Reconstruction and Development (EBRD) and Raiffeisen Bank International are lending EUR 110 milion to the lsraeli company Nofar Energy for the development of two photovoltaic parks located inlepuresti and Ghimpati, in the south-east of Romania, with a total installed capacity of 330 MW.
The financing is extended in equal shares by EBRD and Raiffeisen with EUR 55 million to be extended by eachin two installments - EUR 25 million and EUR 30 million, respectively.
"This achievement is not only a milestone, it is the next logical step in Nofar's continuous growth journey. Thesuccessful completion of these projects will play a crucial role in supporting Romania's ambitious goal ofdecarbonization, contributing to a greener future for the region," said Favi Stelian, Chief Executive Officer ofNofar Energy Romania, quoted by Ziarul Financiar.
The electricity produced by the two projects will be sold on the local market.
The park in lepuresti is owned by RTG Solar Energy, and the one in Ghimpati by Solis lmperium, bothcompanies being controlled by OY Nofar Energy, a company listed on the Tel Aviv Stock Exchange.