Gender workshop - UNECE–Global Water Partnership ADA June 23, 2021
Renewables

Hidroelectrica buys Crucea wind farm from Steag

steag hidroelectrica crucea wind farm

Photo: Steag

Published

December 24, 2020

Country

Comments

0

Share

Published:

December 24, 2020

Country:

Comments:

0

Share

Romanian hydropower producer Hidroelectrica has acquired Crucea wind farm as part of a strategy to diversify its portfolio with renewables.

Essen-based energy company Steag sold its 108 MW Crucea wind farm to Romanian state-owned energy producer Hidroelectrica.

Steag and Hidroelectrica said they signed an agreement concerning the sale of Steag’s shares in Romanian subsidiaries Crucea Wind Farm and Steag Energie România to Hidroelectrica, following a highly competitive process which involved both local and international bidders.

Crucea wind farm receives subsidies under the state support scheme until 2029

Steag Energie România is the exclusive operation and maintenance and administration service for Crucea Wind Farm.

Developed by Steag and commissioned in 2014, Crucea wind farm is one of the largest onshore wind farms in Romania. It will receive subsidies under the state support scheme until 2029.

Hidroelectrica intends to spend EUR 5.4 billion until 2037 on diversification activities

Hidroelectrica is focused on diversifying its production by adding high-quality renewables capacities to its portfolio, as part of the company’s recently approved development strategy, according to the press release.

The company said it aims to remain 100% green throughout the portfolio diversification process.

In May, Hidroelectrica published a spending strategy through 2037 worth EUR 5.4 billion with numerous diversification efforts. The company now operates hydropower plants with an installed capacity of 6.4 GW.

German company will focus on French market

From Steag’s perspective, the move has to be seen in the context of its strategic self-realignment.

The company said its future wind strategy is to develop, sell, and then run renewable assets as a service operator while that most activities would be based in the French market.

Steag is now operating wind farms in France and in Germany.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment

Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

New buildings in Berlin must have solar rooftops from 2023

New buildings in Berlin must have solar rooftops from 2023

22 June 2021 - Berlin is obligating private owners of all new buildings and of those that undergo significant roof renovation to install photovoltaic systems from 2023

Albania calls bids 100 MW wind power plants

Albania announces 100 MW wind auction

22 June 2021 - Developers of wind power projects between 10 MW and 75 MW in Albania can apply for a tender with an initial quota of 100 MW in total

Turkey guarantees of origin electricity

Turkey rolls out system for guarantees of origin of electricity

21 June 2021 - Power producers and consumers in Turkey can now certify electricity from renewable sources including a trading system for guarantees of origin

EPCG is not on sale, to seek partners for joint investments in green energy - government

EPCG not to be sold, seeking joint investments in green energy – government

21 June 2021 - State-owned power utility Elektroprivreda Crne Gore will not be privatized, according to the Ministry of Capital Investments.