Aukera, a pan-European battery storage and renewable energy platform backed by AtlasInvest, Reggeborgh and SFPIM, has reached financial close on a €48.5 million financing package from the International Finance Corporation for the second phase of the Gura Ialomitei Battery Energy Storage System in Romania.
The financing, announced on July 21, includes €40 million in capital expenditure financing and an additional €8.5 million tranche related to VAT. It will support the construction of the remaining 100 MW / 200 MWh of capacity at the project.
Once completed, the Gura Ialomitei project will have a total capacity of 250 MW / 500 MWh. Aukera said it is expected to become Romania’s largest operational battery storage facility and one of the largest in Central and Eastern Europe. The second phase is expected to begin commercial operations by early 2027.
The latest financing follows the successful delivery of the project’s first phase, which has a capacity of 150 MW / 300 MWh. That phase secured a €60 million debt facility from Kommunalkredit Austria AG in November 2025 and reached commercial operation in June 2026.
Aukera said the two project financings, involving two international financial institutions and more than €100 million in total debt financing, demonstrate its ability to develop, finance, build and operate large-scale energy infrastructure.
As renewable power generation expands in Romania, large-scale battery storage is becoming increasingly important for balancing electricity supply and demand, supporting grid stability and improving the use of transmission networks. Aukera said the completed Gura Ialomitei facility will help strengthen Romania’s electricity system and support the integration of more renewable energy into the grid.
Catalin Breaban, co-founder of Aukera, said closing the second phase of Gura Ialomitei reflected the quality of the project and the opportunity in Romania’s energy storage market. He added that the project is Aukera’s first in what is expected to become a substantial Romanian portfolio.
Aiden Yates, managing director and head of structured finance at Aukera, said IFC’s participation marked an important milestone for the platform and underlined the bankability of well-structured battery storage projects.
Marcelo Castellanos, World Bank Group country manager for Romania, said battery storage is opening a new chapter in Romania’s energy transition and that IFC’s support is helping encourage greater private investment in the country’s clean energy future.
The principal advisers to the transaction included Clifford Chance Badea, Dentons, RINA Consulting, PwC, Aurora Energy Research and Marsh.
