Econergy - Parau 2 PV & BESS (EBRD-57033)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Romania
Geographic location where the impacts of the investment may be experienced.
Specific Location
Parau, Brasov County, Transylvania
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jul 8, 2026
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Econergy Ltd.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 64.87 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 56.8
Converted using 2026-07-08 exchange rate.
Loan Amount (USD)
$ 64.87 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 56.8
Converted using 2026-07-08 exchange rate.
Project Cost (USD)
$ 342.64 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 300
Converted using 2026-07-08 exchange rate.
Bank Documents
Primary Source

Original disclosure @ EBRD website

Updated in EWS Oct 14, 2026

Disclosed by Bank Aug 20, 2026

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the EBRD, the Project involves the provision of a senior secured loan of EUR 55 million and a debt service reserve facility of EUR 1.8 million as part of a club financing to support the development, construction and operation of a 342 MWp solar photovoltaic power plant and a 150 MW / 300 MWh co-located battery energy storage system in Romania. The Project is expected to generate approximately 435.91 GWh of renewable electricity annually and will combine utility-scale solar generation with battery storage, thereby enhancing the flexibility and resilience of the Romanian power system. The loan is expected to benefit from the InvestEU guarantee, with the benefits expected to be shared with part of the co-lenders.

The Project will contribute to climate change mitigation and Romania's green energy transition through the construction of large-scale renewable generation capacity and battery energy storage. The Project will support the integration of renewable energy into the national electricity network and contribute to strengthening system flexibility and security of supply.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the EBRD, Heliowin SRL is a limited liability company incorporated in Romania for the purpose of developing and operating 342 MWp of solar capacity and 150 MW / 300 MWh battery energy storage system. The Project is ultimately owned by Econergy Ltd, an Israeli company publicly listed on the Tel Aviv stock exchange.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Econergy Ltd Client Energy

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Client - Econergy Ltd.:

Javier Flamarique
Email: javier@econergytech.com 
Phone: +34 638 579 462
Website: https://www.econergytech.com 

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html

How it works

How it works