The 342 MW Parau Phase II Solar PV Project continues to advance through construction in 2026, representing one of Romania’s largest utility-scale solar developments. In April 2026, Renewable Energy Insurance Broker (REIB) announced that the project had secured a comprehensive, multi-layer insurance program involving 10 international insurers, covering construction, operational risks, delay in start-up, business interruption, third-party liability, terrorism and marine cargo. The integrated insurance structure is intended to enhance the project’s bankability and provide lenders and investors with protection throughout construction and operation.
The project also follows the signing of the EPC contract between Econergy Renewable Energy and Shanghai Electric Group in October 2025 and remains under construction, with completion expected in 2027. Once operational, the 342 MW Parau Phase II Solar PV Project will significantly expand Econergy’s Romanian renewable energy portfolio and reinforce Romania’s transition toward large-scale clean electricity generation. This is as other solar projects continue to take shape in Romania, including the 1 GW Dama Solar Project expected to be the largest in the European Union (EU) upon completion.
Shanghai Electric Signs 342 MW Parau Phase II Solar PV Project Deal with Econergy in Romania
Shanghai Electric Group has signed a contract with Econergy Renewable for the Parau Phase II solar photovoltaic (PV) project in Romania. This is also the company’s fourth large-scale solar venture in the country. The deal covers 342 MW of new solar capacity under an Engineering, Procurement, and Construction (EPC) framework.
Factsheet for Parau Phase II Solar PV Project in Romania
Capacity: 342 MW
Developer: Econergy Renewable Energy
EPC Contractor: Shanghai Electric Group
Phase I Capacity: 91.4 MW. Operational since November 2024
Other Shanghai Electric Projects in Romania:
- 56 MW Schultu solar project already completed.
- 60 MW Ovidi solar project that is currently under construction.
Total Shanghai Electric Portfolio in Romania: About 550 MW
Technology Use: PV modules and solar inverter system
Completion Date: By 2027
Project Timeline
November 2024: Parau Phase I is commissioned.
June 2025: Schultu 56 MW PV project is completed.
Mid-2025: Ovidi 60 MW PV project under construction.
October 2025: Shanghai Electric and Econergy sign EPC contract for 342 MW Parau Phase II.
2026-2027: Planned timeline for construction and grid-integration for Parau Phase II project.
Parau Phase II Solar PV in Romania: Project Overview
Parau Phase II builds on the 91.4 MW Parau I solar project which was commissioned in November 2024. Together, both phases are expected to supply hundreds of thousands of Romanian homes with clean electricity. They will also cut a significant volume of CO2 emissions annually.
Econergy also said the new contract underscores Romania’s accelerating transition toward green energy and the growing attractiveness of its solar sector to international investors. For Shanghai Electric, the project highlights its growing capabilities in solar EPC delivery, grid interconnection, and energy storage systems.
With Phase II, the Shanghai Electric’s total project capacity in Romania rises to approximately 550 MW. This includes earlier developments such as Schultu at 56 MW and Ovidi at 60 MW.
Romania has also seen increased interest in large-scale solar venture by several developers this year. This includes . Romania is also not tethering its decarbonization efforts to renewables only. Other newer cutting edge innovations are coming to life. A good example is Holcim’s near-zero cement plant in Romania, positioned to be the first of its kind in Eastern Europe.
Leave a Reply