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As stated by the IFC, the proposed investment is an IFC loan of up to €136m in an up to €336m total debt financing for a greenfield portfolio of standalone battery energy storage systems in Romania that is being developed by Aukera BV. The Project will have an aggregate storage capacity of up to 1.9GWh for a total estimated Project cost of up to €450m. Stage I of the Project comprises two ready-to-build BESS assets in Gura Ialomitei in South-East Romania. Stage II involves three additional BESS assets spread across locations along the country’s North-East to South-East nodes in Dumbrava, Roman, and Lacu Sarat. Aukera has secured lease agreements with landowners and has obtained rights of way for grid connections, where necessary.
The works required at each of the BESS sites include site preparation and laying of foundations and internal roads, the installation of batteries and control facilities, installing the 33kV/110kV transformer substation and trenching the cable route to connect to the grid via underground cabling. Once operational, the systems will be fully automated. Construction of the first BESS asset in Stage I commenced in October 2025 and is scheduled to be completed by mid-2026, with the second asset in Stage I due for completion and start of commercial operations by the end of 2026.
Stage I has a planned capacity of 250MW (500 MWh), with a total site area of 38,700m² lying approximately 500m from the outskirts of Gura Ialomitei. For Stage II, the Dumbrava site has a planned capacity of 200MW (400MWh) and is situated in the Savinesti Commune adjacent to the Dumbrava substation on the northern edge of the village of Dumbrava-Deal, on a 27,000m² plot approximately 4km north of the town of Roznov. The Roman site (capacity 200MW / 400MWh) is located on a 50,000m² plot approximately 350m from the substation on the northern outskirts of Roman, a municipality in Neamt County, northeastern Romania. The Lacu Sarat site (capacity 300MW / 600MWh) in Braila County is on a 35,000 m² plot approximately 1.5km east of Tudor Vladimirescu Commune and 1.2km northwest of the Lacu Sarat substation.
As stated by the IFC, the total cost of the Project is estimated to reach approximately €450 million. IFC’s proposed investment consists of an up to €48.5 million construction bridge facility, potentially including a VAT tranche, for Stage I. This will be refinanced as part of Stage II, involving a senior debt package arranged by the IFC of up to €236 million, structured as (i) an A loan of up to €100 million for IFC’s own account, and (ii) up to €136 million to be mobilized from commercial lenders as B/parallel loans. In addition, IFC will provide up to €40 million in subordinated junior financing. The balance of funding is expected to be provided by additional subordinated junior financing and Sponsor equity, which includes previously committed equity and a €10 million grant from Romania’s National Recovery and Resilience Plan (“PNNR”).
As stated by the IFC, Aukera is an emerging BESS and renewable energy developer with a footprint in Romania since 2021. The company has a ~14.6GW pipeline, with 6.5GW in projects at an advanced stage of development and 810 MW under construction across Romania, UK, Italy, and Germany.The EPC (Engineering, Procurement, and Construction) contractor has been selected and contracted for Stage I.
Aukera BV is the Project Sponsor. Founded in 2021, the company focuses on the development, construction and operation of renewable energy and battery storage assets across Europe. Aukera is incorporated in Belgium and has secured a ca. 14.5 GW renewable energy pipeline across the UK, Belgium, Romania, Germany and Italy, 810 MW of which is under construction. The Company employs ca. 120 professionals across planning, development, contracting and construction, with dedicated local teams in Romania and a corporate BESS team - providing in-house capacity to execute the pipeline, now moving from development into construction and operations.
Aukera is majority-owned by AtlasInvest, a private investment firm focused on the energy sector, and Reggeborgh, a Netherlands-based, long-term infrastructure investor active in developed markets (together 55.5%). SFPIM, the Sovereign Wealth Fund of Belgium, became a shareholder (8.9%) in October 2025 as part of Aukera’s third-round capital raise. The balance is held by management, employees and other minority investors, none of whom hold more than 5% individually.
Client - Aukera BV:
Strada Andrei Muresanu, nr. 11-13, 2nd floor, Bucharest
Contact form: https://www.aukera.energy/ro/contact/
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