European Bank for Reconstruction and Development commits €70 million financing to Renalfa IPP for Hungarian hybrid renewables project

The European Bank for Reconstruction and Development (EBRD) committed €70 million (USD 70 million) to Renalfa IPP special purpose vehicles in Hungary as part of a €210 million financing package that also includes commercial banks. The financing will fund the development, construction, and operation of a 450 MW solar PV portfolio and a co-located 250 MW / 1 GWh battery energy storage system in northeastern Hungary. Once operational, the project is expected to generate approximately 448 GWh of renewable electricity annually, supporting Hungary’s target to derive 30% of its gross final energy consumption from renewable sources by 2030. All electricity generated by the solar parks will be sold into the Hungarian market without a support scheme or corporate power purchase agreement, marking a material step toward market-based renewable energy integration. Renalfa IPP is a joint venture between Renalfa Solarpro Group and RGREEN INVEST, with the latter providing strategic and financial backing for the hybrid asset.

Counterparts (4)

parent_company

RGREEN INVEST

company · 5 deals

RGREEN INVEST is an independent French investment management company specializing in financing infrastructure projects for energy transition and climate change mitigation. With over €4 billion in assets under management, it invests in renewable energy, energy efficiency, and sustainable agriculture across Europe and North America.

Renalfa Solarpro Group

company · 3 deals

Sofia-based Renalfa Solarpro Group is a leading independent power producer (IPP) and EPC contractor in the renewable energy sector, with over 1 GW of solar PV projects developed and built, and an additional 1.5 GW in development. The group operates primarily in Southeast Europe and is actively expanding across Europe, the Middle East, Africa, Australia, and the USA.

Lender

European Bank for Reconstruction and Development

company · 6 deals

The European Bank for Reconstruction and Development (EBRD) is a multilateral development bank that invests in projects in emerging economies across three continents. It supports projects that promote private sector development, sustainable infrastructure, and the transition to a green economy.

borrower

Renalfa IPP special purpose vehicles

company · 1 deals

Vienna-based independent power producer and renewable energy developer specializing in PV, wind, and battery storage projects with over 3 GW of operational and pipeline capacity across Bulgaria, Hungary, North Macedonia, and Romania.