Independent power producer Econergy has closed financing for its 150 MW Părău 2 solar-plus-storage project in Brașov County, Romania, marking one of the largest hybrid renewable developments to reach financial close in Central and Eastern Europe. The deal demonstrates that institutional capital is increasingly comfortable underwriting combined solar and battery assets in the region, a shift that could accelerate the deployment of dispatchable clean energy across markets where grid flexibility remains a constraint.
Romania’s renewable pipeline has expanded rapidly since the country revised its support schemes and streamlined permitting for hybrid projects, but financing has often lagged behind development. By securing debt and equity commitments for a project that pairs photovoltaic generation with storage, Econergy provides a template for other developers navigating the revenue-stacking complexity of capacity markets, ancillary services, and power purchase agreements in emerging European grids.
The Brașov location is strategic: it sits near major load centres and benefits from relatively strong solar irradiance for the latitude, while the storage component helps mitigate curtailment risk on a transmission network that is still being reinforced. As Romania targets 30 GW of renewable capacity by 2030, projects that deliver firm, time-shifted output will be critical to maintaining system adequacy without relying on coal or gas peaking plants.
Econergy’s track record across Italy, Spain, and Romania positions it as a bellwether for international investors watching the CEE transition. The financial close at Părău 2 suggests that the perceived risk premium for hybrid assets in the region is compressing, potentially lowering the cost of capital for a wave of similar projects currently in late-stage development.
Read the full report at Energy Storage News.