Romania: Photovoltaic panels paid at double prices under PNRR. Nearly 300 million lei received by just three firms

The RePowerEU program, funded through the PNRR and aimed primarily at vulnerable households, has become a significant source of profit for companies that installed photovoltaic panels, batteries, and carried out home renovations.

According to an investigation by ReporterIS, the state paid approximately 1.08 billion euros for works whose actual value would have been nearly half that amount. Furthermore, nearly 297 million lei were received by three companies controlled by the same businessman, Emanuel Toma.

By October 9, 2026, the Ministry of Investments and European Projects (MIPE) had paid out 5.36 billion lei to 85,403 households through 81 companies. Of these, 63 companies each received over 50 million lei, while 13 exceeded the 100 million lei threshold. The top ten companies collectively received 1.38 billion lei.

One of the main issues highlighted by the investigation is the discrepancy between the amounts disbursed and market prices. For the installation of a photovoltaic system of at least 3 kW, including a storage battery, the state allocated 60,217 lei per household to the companies.

In contrast, comparable systems, including installation and VAT, can be purchased on the market at significantly lower prices. For example, a 10 kW kit with a 10 kWh battery cost approximately 31,752 lei.

MIPE clarified in a response to ReporterIS that it does not verify the prices at which companies purchase equipment from suppliers. The allocated funds are fixed and include materials, transportation, and labor, regardless of the actual cost of the work.

The program had three components: the installation of panels and batteries for vulnerable households, the financing of batteries for homes that already had panels, and the energy renovation of houses for low-income individuals. For each company, a limit of a maximum of 1,000 homes per call was established.

The investigation shows that Emanuel Toma, owner of the company Atlas Sport, managed to exceed this limit by acquiring two established companies in the sector shortly before the registration deadline. Asmotec Electric was acquired on October 31, and Luky Dămătăr on November 8, approximately one week before the deadline.

Although they met the age requirements to score points in the project evaluation, the two companies had limited economic activity. In 2023, Luky Dămătăr reported a turnover of approximately 47,500 lei and one employee, while Asmotec Electric had a turnover of around 102,600 lei and three employees.

Subsequently, the three companies secured funding for works on nearly 3,000 residential units, and by October 9, 2026, they had collectively collected 296.7 million lei. In 2025, Luky Dămătăr and Asmotec Electric reported a combined profit of nearly 30 million lei. Based on the profit margins from that year, ReporterIS estimates that the two companies could reach a cumulative profit of approximately 54 million lei from the program, if the results are sustained.

RePowerEU rules did not prohibit multiple companies owned by the same individual from participating in the funding. Furthermore, the documentation did not require the disclosure of subcontractors actually performing the works, and the ministry did not verify the actual price of the equipment.

The investigation also recalls the case of Solar Center, a company nominally owned by the son of the former vice-president of the Vaslui County Council, Dan Marian. According to information previously reported by ReporterIS, the company installed panels for Panel Volt Solar, a beneficiary of the program. DNA prosecutors claim that Dan Marian obtained the list of vulnerable individuals registered in the program before the tender, after allegedly exerting pressure on an employee involved in its management.

MIPE clarified that Solar Center is not listed among the funding beneficiaries and that the documents submitted for the projects do not mention subcontractors.