The renewable energy landscape in Romania is set to expand significantly with the announcement of a €460 million financing agreement for the Ogrezeni hybrid facility. This project, spearheaded by Enery, aims to integrate large-scale solar power generation with advanced battery storage capabilities, marking a notable advancement in the region’s energy infrastructure.
Once completed, the Ogrezeni facility is expected to deliver an impressive 761 MW of solar capacity, complemented by an energy storage system exceeding 1 GWh. This combination of generation and storage is designed to bolster network stability and flexibility, positioning the site as one of the most important hybrid renewable assets in Southeast Europe.
The financing arrangement involves a consortium of seven banks, including UniCredit, Intesa Sanpaolo Group, ING Bank NV, Banca Transilvania, National Bank of Greece in Cyprus, Exim Banca Romaneasca, and Alpha Bank. The financial package consists of long-term loan tranches, a revolving credit facility, VAT-related funding, and additional supporting instruments. Notably, it includes an accordion option that allows for an expansion of the battery component by up to €79 million in the future.
This transaction also represents the inaugural project under Enery’s newly established Sustainable Financing Framework, which aims to promote environmentally aligned infrastructure across Central and Eastern Europe. The company has indicated that this framework will facilitate further renewable initiatives moving forward.
Enery’s leadership has expressed that securing this financing demonstrates strong lender confidence in their ability to manage complex and large-scale energy projects. They view this development as a strategic milestone that not only reinforces their regional ambitions but also contributes to the transition towards low-carbon energy systems.
The Ogrezeni project is being developed in collaboration with the Three Seas Initiative Investment Fund and is located in Giurgiu County. Construction is slated to begin in the first quarter of 2026 following the formal launch of the project.
