Shikun & Binui secures funds for Romanian solar project

Jul 2, 2024 12:09 PM ET
  • Shikun & Binui Energy secures EUR-49-million loan for 101-MW solar project in Romania, marking their second venture in the country's growing renewable energy sector.

Israeli company Shikun & Binui Energy has secured a EUR-49-million loan from Raiffeisen Bank International AG to support the development of a 101-MW solar project in northwest Romania. The project, known as the Simleu Silvaniei Project, will be built by CJR Renewables and is the Israeli firm's second project in Romania to reach financial close.

The financing arrangement will allow Shikun & Binui Energy to either sell the project's output on the Romanian wholesale market or attract direct off-takers among local electricity traders and suppliers. The Simleu Silvaniei site is expected to be equipped with 148,000 PV modules and construction will involve the installation of fixed structures and concrete foundations. Shikun & Binui's CEO Didi Paz expressed optimism about the renewable energy sector in Romania and the company's growing presence in the market with a project pipeline exceeding 1.5 GW.

What is the significance of Shikun & Binui Energy's latest solar project in Romania?

  • The Shikun & Binui Energy's latest solar project in Romania, the Simleu Silvaniei Project, is a 101-MW solar project in northwest Romania.
  • The project is being built by CJR Renewables and is the Israeli firm's second project in Romania to reach financial close.
  • Shikun & Binui Energy secured a EUR-49-million loan from Raiffeisen Bank International AG to support the development of the project.
  • The financing arrangement will allow the company to either sell the project's output on the Romanian wholesale market or attract direct off-takers among local electricity traders and suppliers.
  • The Simleu Silvaniei site is expected to be equipped with 148,000 PV modules and construction will involve the installation of fixed structures and concrete foundations.
  • Shikun & Binui's CEO Didi Paz expressed optimism about the renewable energy sector in Romania and the company's growing presence in the market with a project pipeline exceeding 1.5 GW.

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