Romania's Electrica plans green bond sale, more solar investments

The shareholders of Societatea Energetica Electrica SA (BSE:EL), or Electrica, have greenlit the Romanian utility’s plan to issue up to EUR 500 million (USD 539.8m) in green bonds and invest nearly EUR 90 million in solar projects.

The planned move will include one or several issues of green bonds or sustainable linked bonds, or a mix of them. According to a bourse filing on Friday, the securities are planned to be offered in the 2025-2026 period.

Additionally, Electrica’s plans for the construction of two solar photovoltaic (PV) parks at home have received the support of its shareholders. One of those projects, called Satu Mare 3, calls for investing up to EUR 38 million to expand its Satu Mare complex in northwestern Romania. Another project will see the company invest up to EUR 49.5 million to build a PV park in Bihor, in western Romania’s Bihor county.

The shareholders have also given the thumbs up to a syndicated credit facility of up to RON 3.1 billion (USD 671.9m/EUR 623m) from a consortium of commercial lenders. The statement did not specify how the proceeds will be used.

(EUR 1.0 = USD 1.080)

(RON 1.0 = USD 0.217/EUR 0.201)

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