Romania's Electrica buys 57-MW solar project at home

Romanian utility Societatea Energetica Electrica SA (BSE:EL), better known as Electrica, has acquired a domestic company holding the rights to a 57-MW solar project in the northwestern part of its home country.

New Trend Energy, the special purpose vehicle developing the scheme, was bought for EUR 3.25 million (USD 3.54m), the buyer said in a bourse filing on Monday. The vendors are Romanian businessmen Emanuel Muntmark and Catalin Mrejeru.

The transaction, originally agreed in the summer of 2021, makes Electrica the owner of a photovoltaic (PV) project in Doba, Satu Mare county, located on the border with Hungary and Ukraine. The Satu Mare 3 scheme is currently in the shovel-ready phase.

The acquisition is aligned with Electica’s strategy to expand its services across the electricity value chain, with a focus on renewable power generation. The Romanian utility currently serves roughly 3.8 million customers and has a nationwide coverage, its website shows.

(EUR 1.0 = USD 1.089)

Choose your newsletter by Renewables Now. Join for free!