French investment firm RGREEN INVEST is bolstering Romania’s green energy ambitions with a significant investment in a 230 MW solar photovoltaic (PV) and battery storage project, marking another key step in the country’s transition to renewable power sources.
Solar and Battery Storage Project in Giurgiu: A Romanian solar investment
RGREEN INVEST, a prominent European investor focused on renewable energy and energy transition infrastructure, has officially announced a new landmark investment in Romania. The commitment will fund the development of a 230 MW hybrid project combining solar photovoltaic (PV) technology with a co-located battery energy storage system (BESS) in the Giurgiu region.
This strategic project will be constructed in two distinct phases to ensure a streamlined rollout:
- Phase One: A total capacity of 120 MW, comprising 80 MW of solar PV and a 40 MW battery storage facility.
- Phase Two: An additional 110 MW, with 70 MW of solar PV and another 40 MW of battery storage capacity.
The construction timeline is ambitious, with the first phase scheduled to break ground at the end of 2024. The second phase is set to commence in mid-2025, targeting full project completion by the end of 2026.
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Romania’s Renewable Energy Target and Romanian solar investment
This investment arrives at a crucial time, directly supporting Romania’s aggressive renewable energy goals. The nation is accelerating its clean energy transition, aiming to source 34% of its energy from renewables by 2030. This includes a target of installing 5.1 GW of new solar PV capacity. The Romanian government is actively encouraging the deployment of battery storage to enhance grid stability and seamlessly integrate the growing share of intermittent renewable sources.
RGREEN INVEST’s project is not an isolated event but part of a larger trend of foreign investment flowing into Romania’s green energy sector. It follows similar commitments from firms like ETIC Partners and ambitious plans from companies such as FF Ventures Enters Romania with 1GW Solar Project, signaling strong confidence in the region’s potential.
The funding for this project comes from RGREEN INVEST’s InfraGreen IV fund, which is dedicated to financing renewable energy infrastructure across the continent. With a portfolio already spanning France, Italy, Spain, and Portugal, the fund’s expansion into Romania underscores the growing importance of Eastern European markets in the continent’s energy strategy, a trend reflected in the latest Global Solar Report.
The fund’s emphasis on battery storage is particularly vital. BESS technology is a game-changer for renewable energy, as it solves the core challenge of intermittency. By storing excess electricity generated during peak sunny hours, these systems can release it back into the grid during periods of low production or high demand, ensuring a reliable and stable power supply.
RGREEN INVEST’s Commitment to Renewable Energy through Romanian solar investment
With over €2 billion in assets under management, RGREEN INVEST stands as a leading force in the European renewable energy market. The firm has a proven track record of successful investments in solar, wind, and battery storage projects, each contributing to the decarbonization of the continent’s energy mix. The complex Manufacturing Process of solar panels is a key component of these large-scale developments.
This investment in Romania aligns perfectly with the company’s long-term strategy to facilitate the global transition to a low-carbon economy. RGREEN INVEST is committed to backing projects that deliver a tangible positive environmental impact while helping nations achieve their climate targets.
The 230 MW solar and battery storage facility in Giurgiu represents a significant milestone for Romania. It is poised to play an instrumental role in helping the country not only meet its 2030 renewable energy targets but also in building a more resilient, independent, and sustainable energy future.
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