Shikun & Binui secures funding for 101 MW PV plant in Romania

"The financing arrangement allows us to sell the generated electricity on the Romanian wholesale market or enter into Power Purchase Agreements (PPAs) directly with electricity trading companies and suppliers, enabling the sale of electricity to end customers," Shikun & Binui Energy said in a social media post on Monday.

The Simleu Silvaniei PV plant is the company's second solar project that receives funding and commences construction in Romania, Shikun said. Last year, the company secured a credit facility of 40.5 million euro from RBI and Raiffeisen Bank Romania for the development of a 71 MW PV farm in the northwestern county of Satu Mare. The Satu Mare project is now in the final stages of construction, as per the social media post.

European renewables developer CJR will act as the construction contractor for the Simleu Silvaniei project. The company is also contractor for the Satu Mare project.

Shikun & Binui Energy is working on a pipeline of renewable energy projects in Romania comprising 841 MW of solar capacity and 554 MW of wind capacity. These projects are currently in various stages of development.

"We see significant opportunities in the renewable energy sector in Romania and are strengthening our presence in the Romanian market with a substantial project pipeline exceeding 1.5 gigawatts," Shikun & Binui Energy CEO Didi Paz said.

Shikun & Binui Energy is the Israeli group subsidiary active in the development, financing, construction, and operation of solar, hydro, wind, and natural gas-powered plants.

($ = 0.9295 euro)