Econergy Secures €25 Million for Romanian Solar Farm

• Tel Aviv-listed Econergy secures €25m Vista Bank financing for its Teleorman County solar farm, powering Romania’s renewables push and advancing the IPP’s expansion through the project’s operational phase.

Econergy Renewable Energy Ltd, an Israeli independent power producer listed in Tel Aviv (TLV: ECNR), signed a €25 million ($28.7 million) project finance deal with Vista Bank (Romania) SA to support a solar farm it has built in Teleorman County, southern Romania.

The financing backs the operational phase of the project and underscores Econergy’s continued build-out in Romania’s solar market. Terms of the facility and the project’s capacity were not disclosed.

What does Econergy's €25m Vista Bank deal mean for Teleorman solar operations?

• Validates the plant’s bankability, confirming strong operational performance, permits, and grid compliance after commissioning.
  
• Lowers cost of capital for the asset, improving project IRR and stabilizing cash flows during the operational phase.
  
• Likely refinances construction equity/bridging lines, freeing Econergy capital to accelerate its Romanian pipeline and O&M enhancements in Teleorman.
  
• Enables longer-term O&M planning (spare parts, inverter/transformer lifecycle, vegetation control), boosting availability and output.
  
• Supports revenue de-risking via eligible structures (fixed-price PPAs, hedges, or partial merchant exposure), improving predictability in a volatile power market.
  
• Signals lender confidence in southern Romania’s irradiance profile, where capacity factors are typically higher than the national average.
  
• Strengthens grid-integration measures (SCADA upgrades, forecasting, balancing service contracts) to reduce imbalance penalties and curtailment risk.
  
• Improves covenant-driven performance monitoring, which can lead to tighter KPIs on availability, PR, and safety compliance on site.
  
• Creates room for add-on investments (e.g., limited DC overbuild, potential future BESS retrofit) subject to lender consent, enhancing revenue stacking.
  
• Enhances local economic impact through multi-year service contracts and taxes during the operational life of the Teleorman asset.
  
• Positions Vista Bank as a repeat lender for follow-on assets, potentially speeding subsequent permits-to-finance cycles in the county.
  
• Provides a template for similar mid-sized Romanian solar refinancings, supporting overall market liquidity and lowering sector WACC.