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Austria-based Enery received a green light for the connection of its planned 535 MW photovoltaic system to the transmission grid. It is Romania’s second-largest solar power project.
After signing a virtual power purchase agreement (VPPA) last month for supplying a major brewery in Romania with electricity from one of its future solar power plants, Enery passed another milestone in the same country. The renewable energy developer headquartered in Austria has received the technical grid connection approval for a photovoltaic park of 535 MW, Ziarul Financiar reported.
It is the second-largest advanced solar power project in Romania. The investment is being developed through an SPV (special purpose vehicle) called Baboia Solar Plant. It operates under Enery Element, a joint venture that Enery Development established in 2020 with Element Power RE.
The project is developed through a joint venture with Element Power RE from Bulgaria
The investment in Giurgiu in south Romania is estimated at more than EUR 400 million, the article adds. The transmission network approval was issued on July 21, according to the news outlet.
Enery is controlled by the Three Seas Initiative Investment Fund (3SIIF), which has Amber Infrastructure as investment advisor.
The firm is also active in neighboring Bulgaria, where Element Power is based. Enery said late last year that it was working on 1.5 GW in solar power projects in Romania, including energy storage. Last year the company took over six green energy projects in the country, with 81 MW in total capacity.
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