The European Bank for Reconstruction and Development (EBRD) and Raiffeisen Bank International are providing a €110 million financing package to develop two solar PV power plants in south-eastern Romania, with a total installed capacity of approximately 300 MW. These projects, Iepuresti and Ghimpati, will generate 386 GWh of renewable electricity annually, reducing carbon emissions by 160,000 tonnes per year. The EBRD, a leader in climate finance, has to date invested almost €11 billion in 524 projects in Romania.