Shikun & Binui Energy secures €49 million for solar project in Romania

Shikun & Binui Energy, a subsidiary of Israeli group Shikun & Binui, has announced a financing package of €49 million from Raiffeisen Bank International (RBI). The loan is for the construction of a 101 MW photovoltaic (PV) park in Simleu Silvaniei, in Salaj County, northwestern Romania. The project represents a major step forward in the company’s renewable projects portfolio in Romania.

Opportunities in the Romanian Energy Market

The financing agreement allows Shikun & Binui Energy to sell electricity generated on the Romanian wholesale market or through power purchase agreements (PPAs) with trading companies and suppliers. This flexibility allows the company to maximize revenues by directly targeting end customers. The Simleu Silvaniei project is the second Shikun & Binui Energy solar project to receive financing in Romania. Last year, the company secured a €40.5 million credit line from RBI and Raiffeisen Bank Romania for the development of a 71 MW photovoltaic farm in Satu Mare County, also in the north-west of the country. The Satu Mare project is currently in the final stages of construction. The country’s energy market is growing thanks to the numerous projects being implemented in the area.

Partners and development prospects

For the construction of the Simleu Silvaniei project, Shikun & Binui Energy has selected CJR Renewables as the main contractor. The company was also selected for the Satu Mare project, confirming its continued cooperation with Shikun & Binui Energy in large-scale energy projects in Romania. Shikun & Binui Energy is currently working on a portfolio of renewable energy projects in Romania, with a total capacity of 841 MW of solar energy and 554 MW of wind energy. These projects are in various stages of development and demonstrate the company’s commitment to strengthening its presence in the Romanian renewable energy market. Shikun & Binui Energy CEO Didi Paz said: “We see significant opportunities in the Romanian renewable energy sector and we are strengthening our presence in this market with a significant portfolio of projects exceeding 1.5 gigawatts.”

Implications and Growth Strategy

Shikun & Binui Energy’s strategy is aligned with its growth and asset diversification objectives. Romania, with its natural resources and regulatory framework, represents a key market for renewable energy investments. By diversifying its assets with solar and wind projects, the company is positioning itself as a major player in the region’s energy sector. The total capacity of over 1.5 GW under development by Shikun & Binui Energy in Romania demonstrates not only the company’s confidence in the potential of the Romanian market, but also its commitment to maximizing financial returns and strengthening its position in the renewable energy sector.