Renewables

Romania’s state energy fund SAPE to buy, expand Dârvari solar park

Romania's state energy fund SAPE buy expand Darvari solar

PhotoFranz W. from Pixabay

Published

February 16, 2021

Country

Comments

comments icon

0

Share

Published:

February 16, 2021

Country:

Comments:

comments icon

0

Share

The Government of Romania is acquiring shares in domestic energy companies through its SAPE investment holding, which also has plans to build power plants and develop other projects. Its latest move was to reach a deal to take over the 5 MW Dârvari solar power plant and double it in size.

The Energy Shareholdings Administration Association or SAPE told Profit.ro that it signed a contract with Foto Solar for the takeover of the private firm’s 5 MW solar park in Prahova county in central Romania by April 29. The government-controlled fund management company revealed it intends to increase the capacity of the Dârvari facility to 10 MW or more.

Transaction at below market price

SAPE said its renewable energy investment strategy was developed in line with the European Green Deal and the specific needs of the national energy system. It declined to disclose other details of the transaction but it said the price is below the market level.

SAPE is one of the most profitable state-owned companies in Romania

The holding was founded in 2014 to manage the government’s minority stakes in energy companies. It is one of the most profitable state-owned companies in Romania.

It has a share in ownership in Enel’s local subsidiary, which provides the largest part of its revenue, the article notes. SAPE is developing projects for a thermal power plant in Bucharest, a gas-fired power plant in Fântânele and oil facilities in Constanța, in partnership with Oil Terminal.

Current owner mostly produced losses since 2015

The Dârvari solar power plant was completed in 2015. Foto Solar is controlled by Mag Eco Development and its owner is AG Investments from Italy, which used to operate the Ductil Steel plant.

SAPE recently obtained a provisional license for the production of electricity from the National Energy Regulatory Authority (ANRE) after applying together with Foto Solar, according to the report. The solar power plant is on a land lot of 12 hectares. Foto Solar reported losses each year except for 2019.

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

Cyprus curtails renewable electricity first half 2025 whole last year

Cyprus curtails as much renewable electricity in first half of 2025 as whole last year

09 July 2025 - Curtailments of renewable electricity in Cyprus topped 167 GWh in the first six months of 2025, equivalent to last year's entire cuts

romania energy storage anre double taxation

Romania ends double taxation of energy storage

09 July 2025 - The National Energy Regulatory Authority has approved the regulation on the elimination of double taxation of energy storage

WindEurope seeks next CEO as Giles Dickson to depart

WindEurope seeks next CEO as Giles Dickson to depart

08 July 2025 - Chief Executive Officer Giles Dickson will remain at the helm of WindEurope until it appoints his successor later this year

romania Simtel mogans guris bess

Simtel to install BESS for Güriş in Romania

08 July 2025 - The EPC contract is worth RON 168.9 million (EUR 33.3 million), and the deadline for completion is nine months