Romanian logistics company Aquila [BSE:AQ] put into operation a 0.1 MW solar park in Ploiesti, in southern Romania, to power its operations, the company said on Thursday.
With an initial investment of 100,000 euro ($110,961), Aquila’s solar power plant consists of 222 solar panels over an area of 720 sqm, the company said in a press release.
The company estimates the costs of the park will be amortised over the next four years, as it also plans to feed any excess energy back into the grid.
The move comes as part of a broader sustainability strategy the company has launched in an effort to reduce greenhouse gas emissions by 10% over the next five years. Other measures include reducing plastic use and keeping a close eye on the company's impact over sources of water, the press release added.
Romania has been moving towards implementing green energy initiatives on a larger scale. On Wednesday the energy ministry launched a call for green energy projects, saying a total of 457.7 million euro, including EU co-financing, have been made available for such initiatives.
Aquila is a Romanian logistics company founded in 1994.
It has reported a net profit of 43.8 million lei for January-September 2021, up by 21% year-on-year.
Aquila shares traded flat at 0.85 lei by 13:25 CET on Thursday on the Bucharest Stock Exchange.