A €11.3m grid connection agreement for Romania’s second largest solar park has been signed by Agrovoltaics, a subsidiary of Restart Energy group, and transmission system operator (TSO) Transelectrica.
The PV park’s annual electrical output is estimated to be over 800,000MWh, which will ideally reduce carbon emissions by around 400,000 tonnes per annum. According to the company’s statement, these figures will likely total 12m tonnes reduced over the facility’s operational life – creating €1b of environmental benefits.
Financing for the project will be provided through a partnership with the USA-based fund Interlink Capital Strategies that dates back to 2021, and the Export-Import Bank of the USA (EXIM) has expressed interest in providing USD $380m in financing.
With a national target of 30.7% renewables in its energy mix, Romania is developing enough renewable energy capacities to meet this target. Romania’s Integrated National Energy and Climate Plan (INECP) anticipates up to a 6.9GW increase in solar capacities by 2030.
