The European Bank for Reconstruction and Development is reviewing a potential senior loan for ENNA Group’s Mihailesti solar and storage project in southern Romania. A financing decision is expected by early November. The proposed loan amount and total investment cost have not been disclosed.
Project capacity and battery operating profile
The development combines 87.5 MW of solar capacity with a 70 MW/140 MWh battery system. The battery configuration corresponds to two hours of discharge at its rated power. The project’s design links solar generation with storage capacity.
Location, expected output and emissions impact
The Mihailesti project is located in Giurgiu county. It is expected to generate approximately 115 GWh annually. Once operational, the project is estimated to avoid around 47,000 tonnes of CO₂ emissions per year.
Contractor selection and ownership structure
ENEVO Group has been selected as the engineering, procurement and construction contractor for the project. ENNA acquired the development in 2025 from Vienna-based Kraftfeld Solar. The asset is held through PVP Cepheus, which is owned by ENNA Solar and ultimately controlled by Croatia-based ENNA Group.
Financing role and revenue implications for storage dispatch
The financing decision is described as a key step towards delivery of the Mihailesti project. Combining solar generation with storage is intended to provide greater flexibility over when electricity reaches the market. The eventual revenue structure will determine how much value the battery captures from shifting output between trading periods.
