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Independent power producer Econergy has secured financing for its Parau 2 solar and energy storage project in Brasov County, Romania, as announced on 14 August. The project, with a solar capacity of 342MW and a battery storage capacity of 150MW, is backed by a consortium of six lenders including the European Bank for Reconstruction and Development, the Black Sea Trade and Development Bank, Exim Banca Romaneasca, NLB, OTP Bank, and Banca Comerciala Intesa Sanpaolo Romania. The total financing package amounts to approximately EUR229 million (US$265 million).
According to Econergy, Parau 2 has secured the largest capacity award in Romania’s Contracts for Difference (CfD) mechanism, with 125MW at US$57.18 per MWh for 15 years from commercial operation, which is expected in late 2027 or early 2028. Romania launched its second CfD round in 2025, following a first round that was more than three times oversubscribed with 1.6GW of bids for PV capacity.
Approximately US$132 million of the main facility is supported by an InvestEU guarantee. Financial closing is expected within about three months, and drawdown is subject to customary conditions under the financing agreements, which the company estimates will be satisfied within approximately three months of signing.
Parau 2 is currently under construction and is expected to enter commercial operation in late 2027 or early 2028. Once operational, Econergy claims the project will increase Romania’s renewable electricity generation capacity, reduce greenhouse gas emissions, and support the reliability of the national power system.
In October 2025, Chinese engineering firm Shanghai Electric signed an engineering, procurement, and construction agreement with Econergy for Parau 2. Shanghai Electric also worked on phase one of the project, which was commissioned in 2024.
Romania has recently become one of Europe’s most active battery energy storage system (BESS) markets, with activity accelerating through gigawatt-level announcements. Notable developments include Enerys’ US$530 million financing for its 761MW solar and 1GWh-plus BESS Ogrezeni project, and Alcemi‘s acquisition of 1,200MWh and 1,100MWh BESS projects in Romania in July. The same month, Energy-Storage.news reported on project developments from Aukera, ENEVO Group, and PPC Renewables Romania.
At the Energy Storage Summit 2026 in London in February, Econergy’s head of energy storage, Joshua Murphy, indicated that the company has a significant operating pipeline of solar PV in Romania and is pursuing a hybridisation strategy to add battery storage to those assets.
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