The Parau 2 solar plant has a total capacity of 310 MW (DC), with a maximum awarded CfD capacity of 125 MW AC (150 MW DC). Econergy secured a price of €49.4/MWh under a 15-year contract which is fully index-linked to ensure the long-term stability and viability of the project. The cumulative expected revenues from the project during the CFD period are estimated at approximately €447 million.
Also see: EBRD supports launch of renewable energy auctions
The Parau 2 Project is located in the Brașov region of Romania and is currently in the “licensing” phase. Construction is expected to begin in 2025 and connection in 2027.
In the upcoming CfD auction in 2025, in which 3,500 MW are expected to be allocated, Econergy plans to submit additional projects.
€38 million from RBI to repay loans for the Parau 1 solar plant
The financing agreement with Raiffeisen Bank International (RBI), valued at approximately €38 million, will be used to repay loans provided by related parties for the acquisition, development, and construction of the 92 MW Parau photovoltaic solar project, which became operational earlier this year.
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The loan includes a maturity of up to 10.5 years, structured repayments, and a balloon payment at final maturity, with an interest rate linked to the six-month EURIBOR at a competitive margin.
Also see: Increasing focus on integrated PV development in Eastern Europe
Econergy earlier already financed successfully the 155 MW Ratesti solar park in Romania in partnership with RBI. (hcn)
