Romania's Electrica buys 12-MWp shovel-ready solar project

• Romanian state-controlled electricity distribution group Societatea Energetica Electrica SA (BSE: EL), better referred to as Electrica, has actually acquired a business that holds the legal rights to a 12-MW DC/9.75-MW AC solar project in eastern Romania.

The offer covers the purchase of project vehicle Green Energy Consultancy & Investments SRL, Electrica claimed in a bourse filing on Monday. While the last worth of the purchase was not revealed, the initial arrangement checked in July 2022 asked for an estimated rate of EUR 600,000 (USD 642,800).

The obtained project is readied to produce a solar park near Vulturu locality in Vrancea region. The scheme is currently in the ready-to-build stage. Details concerning the building timeline and also anticipated power result were not offered.

Electrica noted that the transaction was carried out in line with its 2019-2023 approach to broaden its procedures in the power generation market and renewable energy particularly.