Romanian Utility Company Electrica S.A. Acquired a 7.5MW Solar Power Plant Stănești


/6th November 2020, by London Stock Exchange (LSE), Societatea Energetica Electrica S.A., Renewable Market Watch™/


Electrica informs the shareholders and investors that Electrica Furnizare S.A., part of Electrica group, has closed the acquisition from Raylexo Limited and Long Bridge Management si Administrare S.R.L. of the Stanesti Photovoltaic Farm in Giurgiu County, with an installed capacity of 7.5 MW (operational power limited at 6.8 MW), project held by Long Bridge Milenium S.R.L..

The purchase price of the shares is EUR 1,617,940, which may be adjusted on the basis of the share purchase agreement in view of the financial results at the time of closing of the trial balance as at 31 August 2020. Amongst various elements of the transaction, we also note that Electrica Furnizare S.A. has taken over the loans granted by the former shareholders of Long Bridge Milenium S.R.L. to the acquired company, in total outstanding amount of EUR 3,817,749.48.

This transaction is the first step towards the envisaged target of vertical development of - Electrica group by entering the market for electricity generation, in particular from renewable sources, by acquiring wind and/or photovoltaic farms.

Chief Executive Officer

Georgeta Corina POPESCU

Romania is a country located at the crossroads of Central, Eastern, and Southeastern Europe. It borders the Black Sea to the southeast, Bulgaria to the south, Ukraine to the north, Hungary to the west, Serbia to the southwest, and Moldova to the east. It has a predominantly temperate-continental climate. With a total area of 238,397 square kilometres (92,046 sq mi), Romania is the 12th largest country and also the 7th most populous member state of the European Union, having almost 20 million inhabitants, reported the Renewable Market Watch™

After stalling for a long while, there is an activity registered by Renewable Market Watch™ on the Romanian solar PV market despite the recently started COVID-19 pandemic.

The Romanian solar energy market is expected to be heading toward the expansion phase by 2030. Factors propelling the market growth include concerns regarding the environmental impacts of fossil fuels such as degradation, greenhouse gas emissions (GHG), severe climate change conditions, and others. Also, rapid urbanization and economic growth in the largest Romanian cities are significant factors driving the solar energy market. The power market (including the solar photovoltaic sector) in Romania shall be impacted by the COVID-19 post-financial crisis, but we remain optimistic about the future development of solar energy in the country by 2030.

The more information about the solar PV power market in Romania, including full contact details of solar and wind power project owners and developers you may read here: Romania Solar Photovoltaic (PV) Power Market Outlook 2020÷2030 

Тo download the executive summary brochure with sample pages, please access from here: Romania Solar Photovoltaic (PV) Power Market Outlook 2020÷2030 - Sample

For a better understanding of benefits from using our reports, you may read here: Benefit List - Reports of Renewable Market Watch 

About Renewable Market Watch™

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