Renewables

Portland Trust sells largest solar power project in Romania to Econergy, Nofar Energy

Portland Trust sells largest solar project in pipeline in Romania to Econergy, Nofar Energy

Photo: Andreas Troll from Pixabay

Published

August 10, 2021

Country

Comments

0

Share

Published:

August 10, 2021

Country:

Comments:

0

Share

Real estate investor Portland Trust has sold the largest solar project in Romania, with a planned capacity of 153 MW, to renewable energy companies Econergy and Nofar Energy.

Portland Trust’s photovoltaic plant will be installed on 165 hectares in Rătești, Argeș County, northwest of Romania. The completion of the transaction is expected by the end of October, local media reported.

Portland Trust Renewables 1, owned by Portland Trust, earlier obtained a grid connection permit. Romania’s transmission system operator Transelectrica estimated the solar power project would become operational in 2022.

Ratesti solar project has secured connection permit

In March, Portland Trust announced a plan to create a 500 MW portfolio of solar projects, and confirmed it has secured a permit from Transelectrica for a project in Rătești. The overall investment in the portfolio was estimated at EUR 450 million, of which EUR 120 million in the Rătești project.

State-owned power utility Hidroelectrica was also interested in buying the project

Timothy Duffill, the representative of Portland Trust, said the company is looking forward to working with Econergy and Nofar Energy to make the 153 MW solar project a remarkable contribution to renewable energy generation in Romania.

In April, state-owned power utility Hidroelectrica announced that it is interested in buying the Rătești solar project from Portland Trust in order to diversify its portfolio.

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

EU agrees fossil fuel car ban as climate package talks are starting

EU agrees fossil fuel car ban as climate package talks are starting

29 June 2022 - The Council of the EU and European Parliament are set for talks on the Fit-for-55 package. Both agree new combustion engines should be banned by 2035.

offshore-wind-capacity-istock

Record 21.1 GW of new offshore wind capacity deployed in 2021 – GWEC report

29 June 2022 - By the end of this decade, 260 GW of new offshore wind is forecast to be added globally, with total capacity reaching 316 GW

G7 reverses climate policy support LNG gas nuclear power

G7 reverses climate policy with support for LNG, gas, nuclear power

29 June 2022 - The G7 reaffirmed its commitment to climate goals, but it backed the deployment of gas, particularly LNG, and of nuclear power

Romania renewables statistically attributed Netherlands

Romania’s renewables can statistically be attributed to Netherlands

28 June 2022 - The EU enables countries to pay other member states to formally make up for shortfalls in achieving own green energy targets