Renewables

Hidroelectrica buys Crucea wind farm from Steag

steag hidroelectrica crucea wind farm

Photo: Steag

Published

December 24, 2020

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Published:

December 24, 2020

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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.

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