Econergy secures €25 million project financing for solar project in Romania
Published by Abby Butler,
Editorial Assistant
Energy Global,
Econergy Renewable Energy, a leading European independent power producer (IPP), has signed a €25 million project finance agreement with Vista Bank (Romania) S.A. for its 56 MW Scurtu Mare solar project in Teleorman County, Romania.
The financing facility will be used, among other things, to refinance shareholder and bridge loans previously extended by the Phoenix Group and related entities to the project company for construction.
Key loan terms:
- Interest: Three-month EURIBOR + an annual margin of 2.5% – 3.5%, in line with the facility agreement, the lender retains the option to adjust the margin, as needed.
- Final maturity: 30 October, 2040.
- Repayments: Quarterly principal and interest payments beginning 31 December, 2025; principal grace period until 31 March, 2026.
In line with Econergy’s hybridisation strategy, the company also plans to add a 42 MW battery energy storage system (BESS) to the site, representing an additional investment of €12 million. The storage component is expected to contribute approximately €5 million in additional annual revenues and an EBITDA of €4 million (representative year, based on the average of the first five full years of operation).
As part of its project-finance growth strategy, Econergy continues to implement a dedicated financing model for each asset, enabling balanced growth while maintaining financial stability and efficient capital deployment. The company is on track to reach around €514 million in total project finance closings by the end of 1H26.
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Read the article online at: https://www.energyglobal.com/solar/04112025/econergy-secures-25-million-project-financing-for-solar-project-in-romania/