Greece's Mytilineos to sell two solar farms in Romania to Enel Green Power

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BUCHAREST (Romania), September 6 (SeeNews) - Greek industrial conglomerate Mytilineos said on Monday that it has signed an agreement to sell a 90MW solar portfolio in Romania, consisting of two photovoltaic farms, to Enel Green Power Romania, part of Italy's Enel Group.

The two solar farms located in southern Romania are planned to start commercial operations by the end of 2022 or early 2023, Mytilineos said in a press release.

The major project involved in the deal is a 63 MW Ready to Build (RTB) solar farm in Calugareni, with construction scheduled to start by the end of 2021. The remaining capacity of 26MW is currently under development, the group added.

The transaction was signed through Mytilineos Renewables and Storage Development (RSD) business unit.

"We are excited about this transaction in Romania, as this is an important milestone for our development strategy in Europe. We have been one of the first companies to invest in solar energy in Romania - a country with great potential in the development of RES, and we are proud to contribute to the country’s energy transition," Mytilineos RSD business unit general manager Nikos Papapetrou said.

Mytilineos has a pipeline of 4 GW of solar and energy storage projects under various stages of development, in Iberia, Italy, UK, Cyprus, Romania, Chile, Australia and South Korea for which it will assess options to monetize or integrate in its operations, the group said.

Established as a family business in 1908 and as a corporate entity in 1990, Mytilineos currently operates four business units: power and gas; metallurgy; renewables and storage development; and sustainable engineering solutions. The group employs 3,850 globally.

In 2020, the group's operating income (EBITDA) reached 315 million euro ($374 million), while its revenue exceeded 1.9 billion euro, according to its website.

($=0.8425 euro)

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