Finnish renewables investor Korkia has partnered with Romania-based Econous Green Energy to develop 600MW of solar energy capacity in Romania.

The initial projects under the partnership are set to receive licensing and be construction-ready by 2025.

Photovoltaic capacity of 600MW produces 780,000 megawatt-hours of electricity output.

The projects will produce enough renewable energy to power 200,000 homes in Europe.

The projects will offset CO₂ emissions by 300,000kg each year, equivalent to the annual emissions produced by 120,000 cars.

Korkia investment director Peter Goitanich said: “Romania’s renewable energy development sector is now attracting an increasing number of international investors. The country is in a very good position to increase its capacity, and the government has set ambitious growth targets. Romania is on track to become a renewable energy hub in south-east Europe.”

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Romania’s energy strategy is ambitious, with plans to enhance its renewable energy exports and secure its role in the European energy system.

The country’s solar energy market is poised for expansion, with forecasts indicating growth of more than 7GW up to 2033.

Its current energy mix is composed of 40% carbon-based sources.

Econous Green Energy CEO Christos Lialios stated: “Our partnership with Korkia marks a significant moment in our evolution as a key player in the Romanian renewable energy sector. We are thrilled to collaborate with a renowned company like Korkia to develop large-scale solar projects in Romania.

“This partnership not only reaffirms our commitment to the transition to a sustainable energy future but also demonstrates our ability to innovate and act in a way that brings significant benefits to the environment and our communities. We are proud to be part of an initiative that will bring benefits to Romania and all of Europe.”