Renewables

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

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

Photo: Electrica

Published

July 29, 2021

Country

Comments

0

Share

Published:

July 29, 2021

Country:

Comments:

0

Share

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.

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

Third utility-scale solar power plant to be installed in Herzegovina etmax

Third utility-scale solar power plant planned to be developed in Herzegovina

17 September 2021 - The Government of the Republic Srpska decided to initiate the procedure for granting a concession for the Nevesinje PV plant.

eps e3 international energy crops EPS to burn biomass in coal power plants

EPS piloting mixing biomass with coal in its thermal power plants

17 September 2021 - State-controlled power utility Elektroprivreda Srbije (EPS) has launched a pilot project with US company E3 International

timmermans-energy-price-green-transition

Timmermans: energy price hikes should speed up green transition, not slow it down

17 September 2021 - Only about a fifth of the energy price increase can be attributed to the rising costs of CO2 emissions, while the rest is simply due to a market shortage, says the European Commission’s vice president in charge of climate issues.

Romania Oltenia switch coal solar power proceeds CO2 permits

Romania’s Oltenia to switch from coal to solar power using proceeds from CO2 permits

16 September 2021 - Romania hopes to get most of the EUR 671 million for solar power plants in coal complex CE Oltenia from the EU's Modernization Fund