Dutch renewable energy developer Photon Energy N.V. announced on Tuesday the signing of a senior secured loan agreement of up to EUR 15 million with the European Bank for Reconstruction and Development (EBRD) intended to finance the construction and completion of six solar PV power plants in Romania, with a combined capacity of 29 MWp.

„Our decision to commit to the construction of additional PV power plants with a total capacity of 29 MWp and sell electricity into the market represents very strong confidence in the Romanian energy sector, as does the project financing for our projects provided by EBRD,” said Photon Energy Group CEO Georg Hotar.

The EBRD loan is enabled by a guarantee from the European Union under its InvestEU Programme.

Photon Energy has additional utility-scale solar PV projects with a combined capacity of over 210 MWp at different stages of development in Romania, and through its subsidiary Lerta, the group holds electricity trading licenses in Romania.

AGERPRES