Romanian gas player Premier Energy pursues wind power investments

Romanian gas distribution network operator and supplier Premier Energy said on Thursday that it has wrapped up the acquisition of a wind farm project in Romania and plans a EUR-100-million-plus (USD 108.2m) investment in a greenfield wind power development in the country.

The company acquired the Nalbant wind project in Tulcea county from local entity Enex SRL in a EUR-13-million deal. The project consists of the operational phase Nalbant I with an installed capacity of 13.75 MW and the Nalbant II phase, which is currently in the approval stage.

The Nalbant II wind farm will have 27.5 MW of installed capacity, with operations seen in 2024, Premier Energy said.

The gas player also announced that it will develop a 99-MW wind project featuring 16 turbines in the eastern Romanian village of Razboieni. Funding of over EUR 100 million for this project will come from reinvested profit and bank loans.

"We continue the expansion on the main natural gas segment in Romania, at the same time, we have already set a new business line in the production of green energy. We are also focusing on Central Europe and South-East and we already have acquisition targets in the renewable energy sector in neighboring countries: Bulgaria, Greece, Croatia," the company's head of treasury, Iuliana Panescu, said.

(EUR 1.0 = USD 1.082)

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