The European Bank for Reconstruction and Development (EBRD) and Raiffeisen Bank International are lending EUR 110 million to the Israeli company Nofar Energy for the development of two photovoltaic parks located in Iepuresti 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 each in 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. The successful completion of these projects will play a crucial role in supporting Romania's ambitious goal of decarbonization, contributing to a greener future for the region," said Favi Stelian, Chief Executive Officer of Nofar Energy Romania, quoted by Ziarul Financiar.

The electricity produced by the two projects will be sold on the local market.

The park in Iepuresti is owned by RTG Solar Energy, and the one in Ghimpati by Solis Imperium, both companies being controlled by OY Nofar Energy, a company listed on the Tel Aviv Stock Exchange.

iulian@romania-insider.com

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