By Vanora Bennett
The European Bank for Reconstruction and Development (EBRD) is supporting the expansion of renewable energy in Romania with a €90 million(US$105.6million) loan to ENGIE Romania, one of the country’s leading energy suppliers and distributors.
The EBRD’s financing will enable ENGIE to develop new renewable energy projects with a combined capacity of at least 250MW by 2028.
ENGIE Romania is a leading player in the country’s energy market and part of the ENGIE Group, a multinational utility with operations across 31 countries.
ENGIE Group has invested over €2 billion in Romania since the privatisation of Distrigaz Sud in 2005, mainly related to the gas distribution network and to renewable energy production.
“We are pleased to be partnering with ENGIE Romania for the first time to support its renewables ambitions and meeting the decarbonisation targets. This investment reflects our continued commitment to the green transition in the region and lays the foundation for a strong long-term relationship built on shared decarbonisation goals,” said Director, Energy Europe at the EBRD Grzegorz Zielinski.
“The EBRD’s support reinforces our ambition to expand our renewable energy portfolio, a core element of our decarbonization strategy, and to provide customers with green energy. We are proud to join forces with the EBRD in shaping a greener and more resilient energy for the Romanian customers,” said CEO of ENGIE Romania Nicolas Richard.
