BUCHAREST, Romania, March 16, 2026 (GLOBE NEWSWIRE) -- Econergy Renewable Energy Ltd. (TASE: ECNR), has signed a €31 million project finance agreement with Kommunalkredit for its ~60MW Ovidiu PV project in Romania.
The Ovidiu project is currently under construction and represents a key milestone in the company's portfolio expansion in Romania. The financing will primarily fund development and construction costs and refinance related shareholder loans, supporting the project through to commercial operation.
Aligned with Econergy's hybridization strategy across its Romanian portfolio, the company plans to add a Battery Energy Storage System (BESS) component to the Ovidiu site, with construction expected to commence by the end of the year.
This transaction marks the second project finance agreement secured with Kommunalkredit, following the financing of the Iancu Jianu project, further underscoring the bank's continued confidence in Econergy's project quality, execution capabilities, and disciplined financial structuring in the Romanian market.
Romania remains a core growth market for Econergy, with a diversified pipeline of solar and storage assets at various stages of development and construction. The Ovidiu financing strengthens the company's capital structure and reinforces its strategy of scaling bankable, execution-ready renewable assets across Europe.
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About Econergy
Econergy Group (TASE: ECNR) is a leading European IPP and active developer specializing in solar PV, Wind, and Energy Storage projects across key European markets, including Romania, the UK, Italy, Germany, Poland, Spain and Greece. With a robust project pipeline exceeding ~13GW, Econergy is at the forefront of driving Europe's renewable energy transition. For additional information, please visit: https://www.econergytech.com/
About Kommunalkredit
As an Infra Banking Expert, Kommunalkredit provides financing and advisory for the European infrastructure & energy sector, with a focus on energy & environment, communication & digitalisation, transport, and social infrastructure. Kommunalkredit's tailored solutions support infrastructure and energy (I&E) projects, corporations, and acquisitions throughout the entire project lifecycle and the capital structure. Founded in 1958, Kommunalkredit has facilitated new infrastructure and energy financing totalling EUR 12 billion since 2020 alone. www.kommunalkredit.at | LinkedIn
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Corporate Contact: Eliana Horenczyk - eliana@econergytech.com
