General Atlantic taking over 2.1 GW in renewable energy projects in Romania

Private equity firm General Atlantic is proceeding with the acquisition of sustainable infrastructure investment firm Actis. With the transaction, it gets three major solar and wind power projects in Romania, of 2.1 GW in total, and another one in Bulgaria.

Backed by its main shareholder Actis, based in London, renewables developer Rezolv Energy has strong ambitions. Its portfolio includes potentially the largest solar power plant with storage in Romania. In line with a deal from early in the year, General Atlantic is expected to take over Actis in the fourth quarter, Profit.ro reported.

Rezolv Energy is headquartered in Prague, the Czech Republic’s capital city. Recently the company bought the remaining 10% of its Dama Solar project in Arad from Monsson. The facility is envisaged with 1.04 GW or 1.06 GW in photovoltaic capacity.

The site is near the border with Hungary. Dama Solar would at this moment be the largest on the European continent.

Total renewable energy project pipeline is above 2.3 GW

+Rezolv’s Vifor wind power project is for 461 MW in Buzău county, compared to the 600 MW investment called Dunarea East and West. Consisting of two parts and developed in partnership with Low Carbon, the wind farm would be located in the communes of Adamclisi and Deleni near Constanța.

The three projects combined reach 2.1 GW, but there’s more. Rezolv Energy purchased the St. George solar power project in neighboring Bulgaria last year. At the time, with 229 MW in plan, it could have become the biggest photovoltaic system in the country.

According to its website, the company also manages other owners’ wind parks Obrovac (42 MW) in Croatia, Bogoslovec (36 MW) in North Macedonia and Chirnogeni, of 80 MW, in Romania.

Actis to become sustainable infrastructure arm within General Atlantic

At the time of the acquisition deal, the New York–based firm had more than USD 83 billion and Actis had USD 12.5 billion in assets under management.

Through a Luxembourg investment vehicle, Actis indirectly controls a total of nine firms in Romania, the article reads. Under the terms of the agreement, Actis will become the sustainable infrastructure arm within General Atlantic’s global platform, investing in sustainable infrastructure, real estate, growth equity and credit markets.