Electrica acquires 77.5-MW solar project in Romania

Romanian utility Societatea Energetica Electrica SA (BSE:EL), or Electrica, announced today that it has completed the acquisition of a ready-to-build solar project in Romania with an authorised installed capacity of 77.525 MW.

The asset joins Electrica’s portfolio through the purchase of the entity behind the project -- Foton Power Energy SRL, from local businessmen Emanuel Muntmark and Catalin Mrejeru.

Foton Power Energy is developing the Bihor 1 solar project near the northwestern city of Oradea.

Electrica announced an agreement to take over the project company for an estimated purchase price of more than EUR 4.26 million (USD 4.69m) back in December 2021.

The investment is part of the Romanian company’s strategy to expand power production from renewable energy sources.

In July, the company bought a 57-MW solar project in Doba, Satu Mare county, from the same vendors.

(EUR 1 = USD 1.102)

Choose your newsletter by Renewables Now. Join for free!