Econergy to assume 100% ownership of Romania’s biggest solar park, add batteries

Econergy agreed to buy out Nofar’s 50% stake in the 155 MW Rătești photovoltaic plant, the largest in Romania. The next step is to add a 120 MW battery energy storage system.

Econergy Renewable Energy said its subsidiary Econergy International, in which it holds 75.2%, has signed an agreement with Nofar Energy to acquire the partner company’s entire 50% stake in the Rătești solar power plant. The facility northwest of Bucharest, in Argeș county, is the largest in Romania. It has 155 MW in peak capacity.

Following the transaction, Econergy will hold 100% ownership and assume control of the shareholder loan previously provided by Nofar, of EUR 14.9 million, according to the update. The total consideration for the transaction is €45.6 million, payable in three instalments through June 2026.

Both companies are based in Israel. Econergy expects a capital gain of EUR 13 million from the deal. Like with some of its other investments in Romania, it plans to add a 120 MW battery energy storage system (BESS). The operator values the investment at EUR 32 million.

The battery storage facility is expected to enter commercial operation in the second quarter of next year, Econergy revealed. It would generate an additional EUR 15 million in annual revenue and EUR 12 million in earnings before interest, taxes, depreciation and amortization – EBITDA, the announcement reads.

Econergy said its portfolio of solar, wind and storage projects in Romania amounts to 3.5 GW. It includes 473 MW in operation or facilities that are ready to connect, 763 MW under construction and 395 MW scheduled to begin construction by the end of the year. Total project pipeline exceeds 14 GW.