Photo: Freepik
Project firm Crucea Power Park will likely receive up to EUR 253 million from its parent company Electrica for the construction of the Crucea Est wind farm near Constanța. The envisaged capacity is 132 MW. The small communes of Crucea and Pantelimon are becoming a renewable energy hub.
After they gave the green light for two major solar projects, shareholders of Electrica will decide at their next meeting whether to go full speed ahead in the wind power segment as well. In a statement for stock exchanges, the company revealed the proposal to provide up to EUR 253 million to a subsidiary. The sum is without value-added tax.
The firm, Crucea Power Park, is developing the project for a 132 MW wind park in Constanța county. The endeavor is called Crucea Est.
Electrica is a major power distributor and supplier in Romania, so expansion into the production sphere may prove to be beneficial. It scheduled the shareholder assembly for February 5.
Crucea Est is still in the permitting stage. The plan is to integrate a battery storage component, earlier reported with a proposed capability of 15 MW and 60 MWh in capacity.
The company needs to build infrastructure for connecting to the grid including underground lines and a 110/400 kV substation
Monsson’s Muntmark with partner developed projects for Electrica
Electrica agreed to enter into ownership over Crucea Power Park in 2021, in a deal with Emanuel Muntmark, who controls Monsson, and Cătălin Mrejeru. It took over another 20% a few months ago, lifting its share to 60%. The entire purchase was reportedly worth EUR 8.5 million.
The company bought solar power projects from the same investors.
Crucea Est is located in the communes of Crucea and Pantelimon. Of note, Monsson owns land for a giant battery energy storage system right next to the location.
That’s not all. Hidroelectrica has a loss-making wind park called Crucea Nord in the small Crucea commune, with just three thousand inhabitants.
Hidroelectrica, Monsson and Electrica are all developing battery projects near Crucea and Panteleimon
Just a month ago the state-owned hydropower plant operator launched a tender to add a battery unit. The selected company would be tasked with purchasing and installing a system of 36 MW and a nominal capacity of 72 MWh.
Hidroelectrica estimated the investment at EUR 20.3 million plus VAT.
Constanța, located on the Black Sea coast is the largest city in the historical region of Dobrogea or Dobruja. It is Romania’s main wind power hub.
Board keeps CEO Alexandru Chiriță for at least two more years
In other news, the board extended the mandate today of Electrica’s Chief Executive Officer Alexandru Chiriță and Chief Financial Officer Stefan-Alexandru Frangulea until the end of 2026.
The Romanian government owns just under 50% of Electrica. The company recently obtained the right to a subsidy for its own standalone energy storage project.
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