Israel-based Shikun & Binui Energy, part of infrastructure group Shikun & Binui, said that it has secured a 49 million euro loan from Raiffeisen Bank International (RBI) for the construction of a 101 MW photovoltaic (PV) park in Romania’s northwestern town of Simleu Silvaniei, Salaj county.

“The financing arrangement allows us to sell the generated electricity on the Romanian wholesale market or enter into Power Purchase Agreements (PPAs) directly with electricity trading companies and suppliers, enabling the sale of electricity to end customers,” Shikun & Binui Energy announced.

The Simleu Silvaniei PV plant is the company’s second solar project that receives funding and commences construction in Romania, Shikun said. Last year, the company secured a credit facility of 40.5 million euro from RBI and Raiffeisen Bank Romania for the development of a 71 MW PV farm in the northwestern county of Satu Mare. The Satu Mare project is now in the final stages of construction.

CJR Renewables will act as the construction contractor for the Simleu Silvaniei project. The company is also contractor for the Satu Mare project.

Shikun & Binui Energy is working on a pipeline of renewable energy projects in Romania comprising 841 MW of solar capacity and 554 MW of wind capacity. These projects are currently in various stages of development.

“We see significant opportunities in the renewable energy sector in Romania and are strengthening our presence in the Romanian market with a substantial project pipeline exceeding 1.5 gigawatts,” Shikun & Binui Energy CEO Didi Paz said.

Shikun & Binui Energy is the Israeli group subsidiary active in the development, financing, construction, and operation of solar, hydro, wind, and natural gas-powered plants.