Romanian town signs partnership for 200 MW solar park with BESS

A firm recently established by Turkish and Romanian investors has launched a public-private partnership with the local authority in Târgu Lăpuș in northern Transylvania. They are planning a hybrid power plant worth EUR 100 million.

A public-private partnership in the making in northern Romania is aimed at building a 200 MW photovoltaic plant, the largest in Transylvania, with a battery energy storage system, 2Mnews reported. Global Energy Asset, a firm founded by Turkish and Romanian investors less than half a year ago, has signed a deal with the municipal authority in Târgu Lăpuș.

The investors value the project at EUR 100 million. They intend to install the facility on 200 hectares on the territory of the town, also known as Magyarlápos. Târgu Lăpuș is in Maramureș County.

The seat of Global Energy Asset, formerly known as Global Finance Asset, is Tunari in Ilfov county near Bucharest. In addition to financial benefits and covering the costs of electricity for street lighting, its representatives offered the local authority scholarships for children and sponsorship of events and institutions, the article reveals.

The project firm’s largest shareholder reportedly has ties with Feridun Geçgel of Astor Enerji

Muhammed Ishak Çiftçi, who has Romanian citizenship, controls 48% of the project firm. According to the news outlet, he is associated with Turkish billionaire Feridun Geçgel, Chairman of the Board of Astor Enerji.

It is the largest manufacturer of transformers in Turkey. Astor Enerji entered the Romanian photovoltaic market this year by acquiring four projects for 279 MW in total.

In August, Swiss energy storage provider Energy Vault agreed to supply up to 2 GWh of battery capacity for the Turkish company’s future solar power plants in Romania. Astor Enerji is listed on the Istanbul Stock Exchange (Borsa Istanbul).

Head of Global Energy Asset, lawyer Cătălin Iulian Marin, holds 25%, and there are four more co-owners.

Approving the proposal for the public-private partnership, Târgu Lăpuș town hall cited the need for business ventures amid economic difficulties. Namely, furniture manufacturer Taparo, which supplied IKEA and was the biggest business in the area, has become insolvent.