Premier Energy, Motor Oil unit buy 86-MW Romanian PV project duo

Romanian power distributor Premier Energy (BSE:PE) said on Friday it has taken possession of 86 MW of solar projects at home in partnership with a unit of Greece’s Motor Oil Group for an undisclosed amount.

The duo of projects was acquired by Premier Energy’s subsidiary Alive Renewable Holding and Motor Oil Renewable Energy Single Member SA (MORE), the green energy arm of petroleum refiner Motor Oil Hellas Corinth Refineries SA.

Both photovoltaic (PV) projects are planned to be coupled with battery storage. The combined capacity proposed for the energy storage units is 18 MWh.

Under the plan, Premier Energy and MORE will work on the projects’ development together with Alive Capital SA, part of the Premier Energy Group. The partners intend to finalise construction works by the second half of 2025.

Premier Energy noted that the acquisitions are aligned with its strategy to expand in the renewable energy field, thus contributing to addressing climate change issues. The company currently has 1 GW of wind and solar assets under ownership, management or development in Romania and the Republic of Moldova.

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