Premier Energy, Motor Oil Acquire 86MW Romanian Solar Projects

Jun 17, 2024 08:20 PM ET
  • Premier Energy's latest acquisition of an 86 MW solar project with battery storage reinforces their commitment to renewable energy and combating climate change.

Romanian power distributor Premier Energy has acquired an 86 MW solar project in partnership with Motor Oil Renewable Energy Single Member SA, a unit of Greece's Motor Oil Group. The projects, acquired by Premier Energy's subsidiary Alive Renewable Holding, will include battery storage with a combined capacity of 18 MWh. Construction is expected to be completed by the second half of 2025.

The acquisition aligns with Premier Energy's strategy to expand in the renewable energy sector and address climate change issues. The company currently owns, manages, or is developing 1 GW of wind and solar assets in Romania and the Republic of Moldova.

What is Premier Energy's strategy for expanding in the renewable energy sector?

  • Premier Energy aims to continue acquiring solar and wind projects to increase their renewable energy portfolio.
  • The company plans to focus on projects with battery storage capabilities to enhance grid stability and energy reliability.
  • Premier Energy is exploring opportunities to expand into other renewable energy sources such as hydroelectric and biomass.
  • The company is committed to investing in innovative technologies and solutions to optimize energy production and reduce carbon emissions.
  • Premier Energy is actively seeking partnerships with other renewable energy companies and investors to accelerate their growth in the sector.

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