Electricity distribution and supply company Electrica Group has expanded its renewable energy portfolio with the acquisition of 3 renewable energy project companies from a renewable energy company called Monsson Group.
The transaction comprises sale and purchase of shares of the 3 companies with a combined portfolio of 207 MW capacity, including 2 solar PV parks in Satu Mare and a wind farm in Dobrogea area. While a company statement did not identify the said projects, Balkan Green Energy News referred to local media to claim the project companies are developing 27 MW and 59 MW PV projects, along with 121 MW wind project with 60 MW of storage capacity.
The only listed Romanian company in the country's electricity distribution and supply, Electrica Group said this acquisition of renewable energy capacities is an important step in its strategy of upstream integration of activities.
"The acquisition of the 3 projects comes to reconfirm the commitment of Electrica Group towards the development of the electricity production sector from renewable resources, representing, at the same time, an important step towards the implementation of the Group's general growth strategy," said Electrica SA's General Manager Corina Popescu.
Electrica Group entered renewable energy production business with the acquisition of 7.5 MW DC operational solar power project from Long Bridge Millennium SRLin July 2020 (see Romanian Power Supplier Enters RE Domain).
In April 2021, Monsson Alma signed a deal with Enel Green Power to develop 1 GW renewable energy capacity in the country, comprising 500 MW of wind and 500 MW of solar power capacity (see 1 GW Renewable Energy Deal For EGP In Romania).