DRI, a subsidiary of DTEK Group, has signed a credit line agreement with UniCredit and Garanti BBVA for up to €60 million (of which approximately €56 million and RON 22 million for VAT facilities) to finance the construction and operation of the Văcărești photovoltaic park in Romania.

The agreement includes a long-term loan, covering construction loans, VAT, the debt service reserve financing facility and letters of guarantee. The loan structure is aligned with the Green Lending Principles and the EU Taxonomy, which are the cornerstone of the EU’s sustainable financial framework and an essential tool for market transparency, providing clear guidelines for direct investments supporting the green transition, in line with the objectives of the European Green Deal.

The loan supports the construction of the Văcărești photovoltaic park, located in Dâmbovița County, with an installed capacity of 126 MWp, sufficient to power approximately 50,000 households and avoid approximately 48,600 tons of carbon dioxide per year. Construction of the Văcărești photovoltaic park began in January 2025, and is scheduled to become operational in the fall of this year.

Starting in January 2027, DRI will sell 50% of the production of the Văcărești photovoltaic park to OMV Petrom S.A., the largest integrated power producer in Southeastern Europe, as part of the largest direct photovoltaic power purchase agreement (“PPA”) in Romania, signed in December last year.

“With the signing of this financing agreement, we have achieved a new important step for DRI: the first international syndicated, multi-currency financing, certified as a green loan. It is an important achievement not only for DRI, but also for Romania, as it will contribute to the continued development of renewable energy sources in the country. Through this project, we demonstrate our ability to collaborate with globally renowned financial institutions, such as UniCredit and Garanti BBVA, some of the main lenders in Romania”, Ivan Geliukh, CEO of DRI.

DRI has three operational projects in Romania, totaling 173MWp: the two photovoltaic parks, Glodeni I and Glodeni II, with a combined installed capacity of 113MWp, forming one of the largest renewable energy sites in the country, and a 60MW wind farm in Ruginoasa, the first built in Romania in the last decade.

In its priority markets, DRI has a portfolio of 1.3GW of projects in operation, construction and other stages of development.

Autor: Bogdan Tudorache

Active in the economic and business press for the past 26 years, Bogdan graduated Law and then attended intensive courses in Economics and Business English. He went up to the position of editor-in-chief since 2006 and has provided management and editorial policy for numerous economic publications dedicated especially to the community of foreign investors in Romania. From 2003 to 2013 he was active mainly in the financial-banking sector. He started freelancing for Energynomics in 2013, notable for his advanced knowledge of markets, business communities and a mature editorial style, both in Romanian and English.