The European Investment Bank has committed EUR 34 million to back 190 MW of new solar capacity in Romania, led by Scatec ASA and Defic Globe BV, and co-financed by European Bank for Reconstruction and Development and BCR.

February 20, 2026. By Mrinmoy Dey

The European Investment Bank (EIB) has announced committing EUR 34 million for an expansion of solar-power production in Romania. The EIB financing is to support the construction and operation in southwestern Romania of three photovoltaic plants that will have a combined capacity of 190 MW.
 
The planned production sites are in the counties of Olt and Dolj, which are located in the Oltenia region that borders Bulgaria and the Danube River. The construction is set to begin this month, and full commercial operations is due to start in September 2027, EIB said in a statement.
 
The EIB support involves loans totalling EUR 34 million to three Romanian solar companies that are owned 65 percent by Norway-based renewable-energy developer Scatec ASA and 35 percent by Defic Globe BV. The EIB credit is part of a EUR 121 million financing package. The European Bank for Reconstruction and Development (EBRD) and Romanian lender BCR are also financing this project.
 
Two of the three planned solar plants have already secured Contracts for Differences via the CfD auction conducted by the Government in 2024, covering around two-thirds of the project’s expected output for almost 15 years.
 
Commenting on the development, EIB Vice-President Ioannis Tsakiris, said, “Accelerating renewable-energy investment is key for Europe’s economic strength, energy security and climate ambitions. By supporting a significant new solar portfolio in Romania, we are helping to deliver clean, reliable and affordable electricity while promoting economic cohesion. And our financing is mobilising capital together with EBRD and BCR at scale to advance the green transition.”
 
Terje Pilskog, CEO of Scatec, said, “Reaching financial close and starting construction of our first projects in Romania is an important step and confirms the attractiveness of the Romanian market and the strength of the CfD framework. With long-term revenue visibility and a robust financing structure in place, the projects are well-positioned for construction and delivery.”
 
Yasar Tuncer, CEO of Defic, added, “Dobrun and Sadova projects mark an important step in Defic’s contribution to Europe’s sustainable energy transition. Together with our partners EIB, EBRD, BCR and Scatec, we are supporting decarbonisation and energy security through the delivery of long-term, bankable renewable assets aligned with the European Union’s climate objectives.”
 
In the area of clean energy, the project supports a Romanian goal for renewables to account for more than 38 percent of final energy consumption by 2030 and the EU renewables target of at least 42.5 percent over the same period.