Renewables

Romania’s supplier Electrica acquires 31 MW in solar power plants

Romania’s supplier Electrica acquires 31 MW solar power plants

Photo: loretta menchini from Pixabay

Published

October 22, 2021

Country

Comments

comments icon

0

Share

Published:

October 22, 2021

Country:

Comments:

comments icon

0

Share

Romania’s distribution and supply company Electrica Group has taken over five solar power plants with an installed capacity of 31 MW. The company paid EUR 35 million for the photovoltaic facilities.

The solar power plants were operated by TCV Impex, ACV Solar Technology, TIS Energy, Delta & Zeta Energy and Gama & Delta Energy. Electrica Group has purchased 100 percent of the shares in MT Project and HiTech Solar, which own them, local media reported.

The provisional value of the transaction is EUR 35 million, but the final price will be determined after all details are confirmed.

Electrica’s goal is to have a 400 MW renewables portfolio

Electrica will finance the acquisition with a EUR 152 million loan which will be secured from a consortium led by Erste Bank and Raiffeisen Bank, and from its own funds.

The company’s strategy is to invest in the production of renewables. In June, Electrica announced the decision to establish a subsidiary for the 400 MW renewables’ portfolio, together with 100 MW in batteries.

In July, the company bought wind, and solar projects with an installed capacity of 207 MW from renewable energy developer Monsson.

The majority shares of the company are in hands of private companies, EBRD, legal entities, and individuals, while 49 percent is owned by Romania’s government. Electrica is one of the six distribution system operators (DSOs) in R0mania, and also a supplier of electricity and gas.

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

Horius exclusive distributor PupinEnergy chargers Serbia

Horius becomes exclusive distributor of PupinEnergy chargers for Serbia

25 April 2025 - Horius signed an exclusive agreement and became the authorized distributor of PupinEnergy AC electric vehicle chargers in Serbia

romania ccgt power plants entso mintia burduja

Romania’s plan to install 2.15 GW of gas power plants isn’t viable

25 April 2025 - The evaluation is part of ENTSO-E’s annual assessment of Europe’s security of electricity supply for the ten years ahead

Project Albania first gas power plant enters next stage

Project for first gas power plant in Albania enters next stage

25 April 2025 - Greece-based GEK Terna and DEPA Commercial are preparing to build the first gas power plant in Albania, with local partner Gener 2

catl Naxtra Battery sodium ion lithium

CATL: World’s first mass-produced sodium ion battery is here

25 April 2025 - Naxtra breaks resource constraints and strengthens the foundation of the new energy industry, according to CATL