Romania's Cemacon to invest 1.05 mln euro in 455 Wp PV park

• Romanian structure materials producer Cemacon [BSE: CEON] said that it intends to spend 1.053 million euro ($1.11 million) in a 455 Wp photovoltaic park.

The implementation of the project will start this fall, Cemacon said in a statement filed with the Bucharest Stock Exchange, BVB, on Monday.

The photovoltaic park will have an installed capacity of over 1MWh, with the system containing 2,198 photovoltaic panels and 18 inverters of 50 kW. The project will aid cut CO2 emissions by 299 tonnes each year.

The business estimates it will certainly save 165,000 euro each year following the switch to renewable resource supplied by this park.

Some 473,000 euro of the complete financial investment will certainly be covered by a give from Norwegian company International Development Norway.

Cemacon was founded in 1969 in Zalau and also concentrated on the manufacturing of ceramic blocks. In 2010, the firm started running a 2nd manufacturing facility in Recea as well as provided on the BVB. In 2018, it opened a lintel factory.

In June 2021, Cemacon claimed it intends to develop a new, eco-friendly ceramic finishing production line.

Romanian DIY seller Dedeman has 77.8% of Cemacon, PIF Industrial owns 16.67%, while the remainder is in free float on the BVB.

Shares of Cemacon traded flat at 0.6780 lei ($0.15/ 0.14 euro) as at 1005 CET on Tuesday on the BVB.