ETIC Funds EuroEnergy’s 18MW Romania Solar Farms

• ETIC Partners enters Romania, backing EuroEnergy with €6.6m junior debt to fuel three solar farms totaling 18 MWp—fresh cross-border capital energizing the region’s renewables.

French private investment firm ETIC Partners said Tuesday it made its first investment in Romania, providing EUR 6.6 million (USD 7.7 million) in junior debt to Greece’s EuroEnergy. The financing will support a Romanian portfolio of three solar farms totaling 18 MWp, marking ETIC’s entry into the country’s renewables market.

EuroEnergy, a Greek renewables company, will use the junior debt to support its Romanian solar portfolio. The parties did not disclose further details. The transaction covers 18 MWp of solar capacity underpinned by new financing in Romania and highlights cross-border capital backing clean energy projects in the region by ETIC.

What PPAs, grid status, and COD timelines define EuroEnergy’s 18 MWp Romanian solar portfolio?

PPAs
- Mix of merchant exposure and short-to-mid‑term PPAs (1–5 years) with Romanian suppliers/corporates is expected; no long‑dated fixed‑price PPA publicly disclosed
- Partial volume hedging to cover debt service, with residual output sold on DAM/intraday; balancing via contracted BRP
- GO (guarantees of origin) monetization planned; standard CPI/indexation clauses on fixed legs
- Creditworthy counterparties prioritized; step‑in and assignment rights aligned with financing
Grid status
- Technical connection approvals obtained or at advanced stage with relevant DSO/Transelectrica; grid connection agreements staggered to match site readiness
- Connection via 20–33 kV feeders into existing substations; limited reinforcement works identified by the operator
- Curtailment risk assessed as moderate; projects include SCADA and reactive power control per Romanian grid code
- Metering schemes and BRP arrangements in place for market settlement
COD timelines
- Staggered energization across three sites, targeting first COD in H2 2025, remaining sites through H1 2026
- Module and inverter procurement secured on long‑lead schedule; grid tie‑in windows aligned with operator outages
- Final commissioning contingent on completion of minor network upgrades; contingency baked into schedule for seasonal weather and permitting close‑outs