Portland Trust completes sale of solar park project in Romania to Econergy, Nofar Energy

Czech real estate developer Portland Trust has completed the sale of a solar park project under development in Romania to renewable energy providers Econergy and Nofar Energy, deal advisor PeliFilip said on Thursday.

Located in Ratesti, Arges county, the photovoltaic (PV) park has an authorized production capacity of over 153 MW and spreads on an estimated area of ​​over 165 ha, PeliFilip said in a press release.

The price of the deal was not disclosed. Portland announced the transaction in August.

In March, Portland Trust unveiled a plan to create a 500 MW portfolio of solar projects worth an estimated total of 450 million euro ($521 million). Out of this sum, 120 million euro were to be invested in the Ratesti project.

Established in 1997, Portland Trust is a commercial real estate developer and asset manager with offices in Prague and Bucharest.

Eco-Energy is an international independent producer of utility-scale renewable energy projects. Nofar Energy is an international renewables company based in Israel, with renewables projects in Israel, Spain, Italy, the United States and now Romania.

($=0.864 euro)

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