S.C. West Power Investment Srl, a firm reportedly backed by a group of international investors, plans to develop a 700 MW solar park in western Romania, the largest in the country.
The international investors, whose identities remain undisclosed, could invest as much as EUR 700 million to build the solar park on an area of over 1,000 hectares in Arad County, according to local authorities.
The project could be worth EUR 700 million
As Romania is currently not awarding any incentives for large-scale solar projects, the developers are likely hoping to take advantage of the recent introduction of more favorable rules for power purchase agreements, according to a report by pv-magazine
The investors are already buying land for the project
Arad County authorities have opened a public consultation on the project, which is to be developed in the municipalities of Grăniceri and Pilu. According to the mayor of Pilu, investors have already started land acquisition procedures.
According to previous reports, state-controlled Complexul Energetic Oltenia (CE Oltenia) intends to install eight solar parks with a total capacity of 700 MW , while the country’s largest energy company, OMV Petrom, is reportedly working on a 111 MW solar power project in the Dolj county in the southwest.