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Electrica acquires Stănești solar park, enters power generation market

June 26, 2020 | Comments: 0Author:

Electrica acquires Stănești solar park, enters power generation market

Romanian power supply company Electrica Group has acquired 7.5 MW Stănești Photovoltaic (PV) Farm in a move that marks its entry in the power generation sector, namely renewables.

According to the local media, the company is also negotiating the acquisition of several other facilities including the 45 MW Dorobanţu wind farm and PV farms controlled by Canada’s Jade Power Trust.

The company is also negotiating the acquisition of the 45 MW Dorobanţu wind farm

State-owned Electrica Group said its member Electrica Furnizare is entering the electricity production market by signing a contract with Raylexo Limited and Long Bridge Management and Administration for the purchase of the Stănești Photovoltaic Farm in Giurgiu county, owned by Long Bridge Millennium.

With an installed capacity of 7.5 MW and an operating capacity limited to 6.8 MW, the solar power plant is located on an area of 17.5 hectares. It was built between October 2012 and January 2013, while electricity production began in February 2013.

The purchase price will be determined at the closing of the transaction

The transaction and the transfer of share ownership to Electrica Furnizare S.A. are subject to the fulfillment of relevant conditions.

The purchase price will be determined at the closing of the transaction, pursuant to the terms of the contract.

Electrica Furnizare supplies gas and electricity to 3.6 million customers.

First step towards vertical development of Electrica Group

According to Electrica, the acquisition is the first step towards the envisaged target of vertical development of its group, as it would enter the market for electricity generation, in particular from renewable energy sources.

Popescu: The European Commission launched a new challenge for the member states – the European Green Deal

Corina Popescu, CEO of Electrica Group, said that the expansion in the renewable energy production sector is one of the important objectives of the company’s strategy for the period 2019-2023.

“We are aware of the importance of decarbonizing the energy sector and concerned about sustainable business development in the context of the new challenge launched by the European Commission for the member states – the European Green Deal,” she said.

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