Electricity

DTEK’s subsidiary DRI buys 126 MW solar power project in Romania

DTEK subsidiary DRI buys 126 MW solar power project Romania

Photo: DRI

Published

June 19, 2024

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Published:

June 19, 2024

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Renewable energy company DRI acquired its third project in Romania. The 126 MW solar farm in Văcărești in Dâmbovița county is set to become operational next year.

DRI, the renewable energy arm of DTEK Group in the European Union, purchased a photovoltaic project with an expected output of 205.8 GWh per year. The future solar park in Văcărești in Dâmbovița county, of 126 MW, would double the company’s operational portfolio in Romania.

Its goal for the country is to reach 1 GW by 2028. DRI said it acquired the project from local developers.

Its 53 MW solar farm in Glodeni, Mureș county, and a 60 MW wind farm in Ruginoasa, Iași county, started producing electricity early this year, according to the announcement. The Ruginoasa facility was the first of its kind to be built in the past decade in Romania.

Supply to be sufficient for 50,000 Romanian households

The construction of the Văcărești solar park will begin in autumn 2024 and it is expected to be completed the following autumn, the company revealed. The estimated annual production is equivalent to the average consumption of 50,000 domestic households, DRI added. It also calculated that the PV plant would save 48,600 tons of carbon emissions per year, referring to the footprint of the EU’s power sector for 2022.

The sellers have secured the land, grid connection and necessary permits. The company based in the Netherlands said it would add value through its engineering expertise, supply chain and construction management, and the flexibility of its capital structure.

“The Văcărești project demonstrates DRI’s ambition to become a significant player in Romania. We believe that Romania has the means to become a hub for renewable energy, and the new contract-for-difference scheme encourages companies like DRI to continue to invest and help unlock Romania’s solar and wind energy potential”, Chief Executive Officer John Stuart said.

DRI is also active in Croatia, Poland, Italy

The company said its strategy is to buy greenfield projects and portfolios (from early-stage to ready-to-build), partner with local developers, and acquire operating assets where it can add value.

DRI is working on projects in Croatia for the Brda Umovi wind farm of 127.5 MW, with a plan to add 29 MW in the second stage, and the Vedrine solar park of 60 MW in peak capacity. Both sites are near Split in Dalmatia. DRI, which stands for DTEK Renewables International, is also active in Italy and Poland.

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