EBRD extends EUR 44 mln financing for BESS system in Romania

The European Bank for Reconstruction and Development (EBRD) is supporting the development of a large-scale battery energy storage system in Scornicești, Romania. The project, co-owned by pan-European Independent Power Producer (IPP), R.Power S.A., and Eiffel Investment Group, through its managed fund Eiffel Transition Infrastructure SLP, will deliver installed capacity of 127 MW / 254 MWh and strengthen Romania’s energy security.

The bank will provide up to EUR 44 million in financing to support the project’s development, construction, and operation, on a non-recourse project finance basis.

Part of the EBRD financing (EUR 29 million) will be supported by the InvestEU first loss guarantee.

Romania is rapidly expanding renewable energy generation under its updated National Energy and Climate Plan, which targets 38.3% renewables in final energy consumption by 2030. This growth is increasing pressure on the grid and highlighting the importance of storage solutions.

(Photo source: Ebrd.com)