In a significant stride towards enhancing Romania’s renewable energy landscape, ENGIE Romania SA has secured a 90 million euros loan from the European Bank for Reconstruction and Development (EBRD). This financing aligns with ENGIE’s ambitious decarbonization objectives and underpins its commitment to expanding renewable energy capacity across Romania. The project forms a crucial part of ENGIE Group’s Green Financing Framework.
The financing package will support ENGIE Romania in refinancing its acquisition of the 80MW Chirnogeni operational wind project. This move, in conjunction with a larger financing envelope, enables ENGIE to invest in approximately 250MW of greenfield renewable capacity by 2028. These initiatives are designed to advance Romania’s transition to cleaner energy and contribute to ENGIE Group’s broader aim of achieving 1GW renewable capacity in Romania by 2030.
The Chirnogeni wind project – originally financed by the EBRD in 2012 – has maintained satisfactory environmental and social performance since its inception, points out EBRD.
The EBRD’s involvement extends beyond financing to advisory and policy initiatives aimed at improving gender equality and non-discrimination practices within ENGIE Romania. These initiatives align with ENGIE’s internal objectives of fostering a diverse and inclusive workforce. By the end of 2023, women constituted 31% of the company’s workforce, with 46% in management roles.
In May 2024, ENGIE Romania finalised the acquisition of the operational wind farm previously owned by EnerCap Capital Partners Group and EP Global Energy. Located in Chirnogeni in Constanta County, the wind farm benefits from the favourable wind conditions characteristic of the region and is expected to generate a net annual production of approximately 180 GWh, equivalent to the electricity consumption of 90,000 households over a one-year period.
The investment marked an important milestone for ENGIE Romania, with the total installed capacity of wind and solar power generation in Romania reaching 202 MW. With this new acquisition, the company also almost doubled its existing wind generation capacity and will contribute, together with its other renewable energy assets, to strengthening the company’s position in the green power generation segment.
The ENGIE Romania Group owns and operates 2 wind farms with a total installed capacity of 98 MW, in the counties of Brăila and Galați, as well as 4 photovoltaic farms with a total installed capacity of 24 MW, in the counties of Arad, Buzău, Harghita and Teleorman.
Moreover, in 2023, the company took the investment decision and started the construction of two greenfield solar power plants. One of them is located in the commune of Ariceștii Rahtivani, Prahova County, with a total capacity of 37.2 MWp, and the second, with an installed capacity of 9.3 MWp, is located in Gemenele, Brăila County, on the land where ENGIE already operates a wind farm.