Electrica buys owner of 27-MW shovel-ready solar project in Romania

Romanian state-controlled electricity distribution group Societatea Energetica Electrica SA (BSE:EL), better known as Electrica, has wrapped up the acquisition of Sunwind Energy Srl, the developer of a 27-MW solar project in northwestern Romania.

The project vehicle was bought from local businessmen Emanuel Muntmark and Catalin Mrejeru, Electrica said in a filing with the Bucharest Stock Exchange on Friday. The value of the transaction was not disclosed.

Sunwind Energy is developing the Satu Mare 2 project, which will add 27.1 MW of photovoltaic (PV) generation capacity near Botiz, in Romania’s Satu Mare county. The scheme is in the ready-to-build phase. Details about the construction schedule and its planned commissioning were not available in the press statement.

The acquisition, which was initially agreed in July 2021, is aligned with Electrica’s 2019-2023 strategy to expand its operations in the power generation sector and renewable energy in particular. The purchase comes on the heels the February acquisition of Green Energy Consultancy & Investments SRL, which holds the rights to a 12-MW DC/9.75-MW AC solar project in eastern Romania’s Vrancea county.

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