Nala Renewables enters Romania with 61-MWp solar project buy

Global renewables platform Nala Renewables said today it is expanding into Romania with a deal to acquire a 61-MWp solar project in the western part of the country from Romanian renewable energy company Monsson.

Nala Renewables is a joint venture between IFM Investors, which is owned by a group of Australian pension funds, and Singapore-based commodities trader Trafigura.

The Romanian project is expected to commence construction during the third quarter of 2024 and connect to the Romanian grid in 2025. When up and running, the solar farm is projected to generate around 80,000 MWh a year. It offers an opportunity for adding a battery energy storage system (BESS) that Nala Renewables plans to take advantage of. The solar power plant is also backed by a 12-year offtake agreement.

Commenting on the Romanian acquisition, Will Herlinger, director at Nala Renewables, said: “It’s an attractive country to develop, acquire, build and operate renewable projects, in part due to a supportive regulatory environment driven by ambitious renewable energy targets.” The company expects to continue to be active in the Central and Eastern Europe (CEE) region in the coming years.

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