Engie Romania gets EUR 90 ml EBRD loan to develop its renewables projects

   The European Bank for Reconstruction and Development (EBRD) has granted gas and power utility Engie Romania a loan of EUR 90 million for the development of new renewable energy projects with a total capacity of at least 250 MW by 2028."The European Bank for Reconstruction and Development (EBRD) is supporting the expansion of renewable energy in Romania with a EUR 90 million loan to Engie Romania, one of the country's leading energy suppliers and distributors. The EBRD's financing will enable Engie to develop new renewable energy projects with a combined capacity of at least 250 MW by 2028," the bank said in a statement.Engie Romania is a leading player in the country's energy market and part of Engie Group, a multinational utility with operations across 31 countries. Engie Group has invested over EUR 2 billion in Romania since the privatisation of Distrigaz Sud in 2005, mainly related to the gas distribution network and to renewable energy production."We are pleased to be partnering with Engie Romania for the first time to support its renewables ambitions and meeting the decarbonisation targets. This investment reflects our continued commitment to the green transition in the region and lays the foundation for a strong long-term relationship built on shared decarbonisation goals," said Grzegorz Zielinski, Director, Energy Europe at the EBRD, as cited in the release.Nicolas Richard, CEO of Engie Romania, stressed that EBRD's support reinforces the company's ambition to expand its renewable energy portfolio, a core element of its decarbonization strategy, and to provide customers with green energy. "We are proud to join forces with the EBRD in shaping a greener and more resilient energy for the Romanian customers," Richard said.The Engie Romania group of companies operates in the following areas of activity: distribution and supply of natural gas, production from renewable sources and supply of electricity, as well as green solutions and technical services for natural gas installations and residential heating systems. Engie Romania and its subsidiaries serve a portfolio of over 2.3 million customers, operate a 24,000 km distribution network, have a green generation capacity of 248 MW and employ over 4,400 people.The EBRD is a leading institutional investor in Romania, with over EUR 11.6 billion invested in 560 projects to date. EBRD support contributes to strengthening Romania's green economy and accelerating the transition to a low-carbon future, generating long-term benefits for the economy and the environment.