The European Bank for Reconstruction and Development has granted ENGIE Romania a €90m loan to develop new renewable energy projects with a total capacity of at least 250 MW by 2028.
“The European Bank for Reconstruction and Development (EBRD) is supporting the expansion of renewable energy production capacities in Romania through a €90m loan to ENGIE Romania, one of the country’s leading energy suppliers and distributors. The financing provided by the EBRD will enable ENGIE to develop new renewable energy projects with a total capacity of at least 250 MW by 2028,” the bank said in a statement.
ENGIE Romania is a major player in the Romanian energy market and is part of the ENGIE Group, a multinational utility company with operations in 31 countries. ENGIE Group has invested over two billion euros in Romania since the privatization of Distrigaz Sud in 2005, with investments mainly focused on the natural gas distribution network and renewable energy production.
“We are delighted to collaborate for the first time with ENGIE Romania to support the company’s renewable energy ambitions and the achievement of its decarbonization targets. This investment reflects our continued commitment to the green transition in the region and lays the foundation for a solid long-term relationship, built on shared decarbonization objectives,” said Grzegorz Zielinski, Director of Energy Europe at the EBRD, quoted in the press release.
Nicolas Richard, CEO of ENGIE Romania, stressed that the support provided by the EBRD reinforces the company’s ambition to expand its renewable energy portfolio, a key pillar of its decarbonization strategy, and to provide green energy to its customers.
“We are proud to work with the EBRD to contribute to building a greener and more resilient energy system for Romanian consumers,” said Nicolas Richard.
The ENGIE Romania group of companies operates in the following areas of activity: natural gas distribution and supply, renewable energy production and electricity supply, as well as green solutions and technical services for natural gas installations and thermal power plants. ENGIE Romania and its subsidiaries serve a portfolio of over 2.3 million customers, operate a 24,000 km distribution network, have a green generation capacity of 248 MW and have over 4,400 employees.
The EBRD is a leading institutional investor in Romania, with over EUR 11.6 billion invested in 560 projects to date. EBRD support contributes to strengthening Romania’s green economy and accelerating the transition to a low-carbon future, generating long-term benefits for the economy and the environment.