Romania’s Electrica takes over EUR 207 MW wind, solar portfolio from Monsson

Romania’s distribution and supply company Electrica Group has bought three firms from renewable energy developer Monsson. The firms are developing two photovoltaic parks in the Satu Mare area, and one wind farm in the Dobruja region.

Electrica has announced it bought shares in three Monsson’s firms engaged in the development of renewable energy projects. Monsson is controlled by Swedish businessman Emanuel Muntmark while the Romanian government is the biggest shareholder (49%) of Electrica.

Electrica paid EUR 13.2 million for the three firms, but the final price will be determined after all details are confirmed, according to the local media.

The first contract relates to the Crucea Power Park which is developing a 121 MW wind project called Crucea Esta and storage capacity of 60 MW. The price is EUR 8.47 million.

The wind farm is planned for a capacity of 121 MW while the two solar facilities should have 86 MW combined

Sunwind Energy intends to build solar power plant Satu Mare 2 with an installed capacity of 27 MW. The firm is paid EUR 1.485 million. Electrica also bought New Trend Energy, a firm which is developing the 59 MW Satu Mare 3 photovoltaic plant, for EUR 3.24 million.

Electrica said the transaction is in line with the group’s strategy to invest in renewable energy. In June, the company revealed it would set up a subsidiary with the aim to develop a portfolio of renewable energy projects with an installed capacity of 400 MW in total, together with 100 MW in batteries.

Electrica CEO Corina Popescu said the ambitious goals from the European Green Deal can be achieved through sustained effort of industry players.

The acquisition of the three projects underlines Electrica Group’s commitment to electricity production from renewables resources, and backs the company’s growth strategy, she stressed.