NextE Signs Record 25-yr Corp PPA in Romania
- Revolutionizing Romania: NextE signs 25-year PPA with RAAL for 7.4MW PV facility, with ProCredit Bank providing EUR 3.15 million green loan. EU adds to support via Recovery & Resilience Facility while Hidroelectrica cancels tender for largest solar project in Europe.
NextE, a member of the Connect44 Group, has signed a 25-year power purchase agreement with Romanian manufacturer RAAL for a 7.4 MW photovoltaic system worth EUR 4.8 million. The facility in the Prundu Bârgăului commune is the longest corporate PPA in Romania. ProCredit Bank provided a EUR 3.15 million green loan, and the payment period is 15 years. Total annual output is estimated at 7.3 GWh, with surplus electricity being sold on the market. Solar power projects are rapidly expanding in Romania due to legislative reforms and subsidies from the European Union's Recovery and Resilience Facility. Projects such as agrisolar, which are estimated at EUR 150 million, are also gaining attention. Hidroelectrica recently canceled a tender for documentation for the largest solar power project in Europe.
What Is the Longest Corporate PPA in Romania?
- The 7.4 MW photovoltaic system that NextE has signed a 25-year PPA with Romanian manufacturer RAAL is worth EUR 4.8 million.
- ProCredit Bank provided a EUR 3.15 million green loan for the project, with a payment period of 15 years.
- The Total annual output of the photovoltaic system is estimated at 7.3 GWh, with surplus electricity being sold on the market.
- Solar power projects are rapidly expanding in Romania due to legislative reforms and subsidies from the European Union's Recovery and Resilience Facility.
- One such project is Agrisolar, which is estimated to be worth EUR 150 million.
- Hidroelectrica recently canceled a tender for documentation for the largest solar power project in Europe, which is estimated to be worth EUR 1 billion.
- The 25-year power purchase agreement signed between NextE and RAAL is the longest corporate PPA in Romania.