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


February 16, 2021






February 16, 2021





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 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

Romanian journalists uncover giant hybrid power plant project Serbian border

Romanian journalists uncover giant hybrid power plant project on Serbian border

30 March 2023 - A dormant wind, solar and pumped hydropower project valued at EUR 1.9 billion has been unearthed in a Romanian media report

us renewables texas coal nuclear eia

Renewables outpace coal for first time in US power production

30 March 2023 - The US power sector produced 4,090 TWh last year, and the share of renewables was 21%, the Energy Information Administration said.

Djedovic Dedovic Serbia promote energy storage renewables law

Đedović: Serbia to promote energy storage with changes to renewables law

30 March 2023 - To avoid a delay in connecting their renewable power plant, investors will need to add batteries, according to the renewables bill

Greece PPC Renewables two solar power plants f 250 MW

Greece’s PPC Renewables finishing two solar power plants of 250 MW in total

29 March 2023 - PPC Renewables said it would complete two photovoltaic facilities in Greece's coal hubs by the end of the month