Renewables

Vestas sells majority stake in three wind power plants in Romania

power plants Kurbin

Photo: Courtesy of Vestas Wind Systems A/S

Published

September 4, 2019

Country

Comments

0

Share

Published:

September 4, 2019

Country:

Comments:

0

Share

Vestas has entered into an agreement to sell 80% of its shares in the subsidiaries owning the Romanian wind power plants Pantelimon, Pegasus, and Apollo to a non-disclosed buyer for a selling price of EUR 136 m, the Danish manufacturer of wind turbines has said in a press release.

Three wind power plants have 160 MW of installed capacity.

Closing of the transaction is expected to take place within eight to ten weeks, Vestas said, adding that the transaction is subject to certain closing conditions, including approval by the Romanian Competition Council.

The sale of projects are expected to be recognized as revenue and earnings within the fiscal year of 2019.

Romania has a total wind power capacity of 3 GW.

Vestas designs, manufactures, installs, and services wind turbines across the globe. According to company’s website, so far it has installed 105 GW of wind turbines in 80 countries.

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

Renewables-Greece-get-shortcut-grid-connection-PPAs

Renewables in Greece get shortcut to grid connection with PPAs

23 April 2024 - Renewables projects in Greece with PPAs with energy-intensive industrial consumers get priority in the transmission grid connection queue

Brite Solar agrisolar panel plant Greece 2024

Brite Solar to complete agrisolar panel plant in Greece by end-2024

23 April 2024 - Greek startup Brite Solar is building a production line in Patras for transparent solar panels for agrivoltaic production

green wolt scotland floating wind farm

Green Volt, world’s largest floating wind project, obtains planning approval

23 April 2024 - The project has now received all its planning approvals and remains on track to be the first commercial-scale offshore wind farm in Europe

Solar-power-plants-North-Macedonian-industrial-zones-supply-exporters-EU

Solar power plants in North Macedonian industrial zones to supply exporters to EU

23 April 2024 - Solar power plants in industrial zones in North Macedonia will enable manufacturers exporting their products to the EU to avoid CBAM