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In Romania, renewable energy reserves shift hands as energy firms turn to the green future

Two major energy firms announced the acquisition of local renewable energy resources in Romania in the month of December. Traditional energy companies are becoming increasingly keen to broaden or move into green energy divisions. This is also driving up interest in Romania’s wind and solar parks. On Dec. 23, the state-controlled hydropower corporation Hidroelectrica reported that it had struck a deal to take over 108 MW Crucea wind farm situated in the east-part of the nation from its German owners after a fiercely competitive process involving both local and foreign bidders.

Crucea Wind Farm, built by STEAG and got commissioned in the year 2014, is among Romania’s most new and better onshore wind farms with a generation capacity of 108MW. Thirty-six Vestas turbines of 3MW each are part of the farm. The partnership includes the interests in the Romanian affiliates Crucea Wind Farm as well as STEAG Energie Romania of the German company STEAG. The stake prices were not listed, but the venture was valued at up to nearly € 192 million by the European Bank for Reconstruction and Development (EBRD) during the funding process in 2013.

As one of its recently accepted growth plans, Hidroelectrica states it focuses on broadening its supply by incorporating high-quality renewable energy capabilities into its portfolio. All throughout various investment processes, the firm restated its target of staying 100 percent renewable. The offer came the week after Engie Romania concluded the purchase of, as per a company release, a photovoltaic park with a combined capacity of 9.3 MW, situated in Cristuru Secuiesc village located in Harghita County. The park comprises 2 farms and seems to be part of Ever Solar SA, a company operated by German photovoltaic park company Soventix as well as Alpin Solar, co-owner and developer.

At present, Engie Romania runs 110 MW of sustainable energy in the wind and photovoltaic sectors. Leading up to this acquisition, the Engie Romania region was active in the area of renewablepower through the operation of 2 wind farms in Galati and Braila’s counties with a generation capacity of around 100 MW. In the month of November, OMV Petrom, with activities in the oil, gas as well as electricity industries, unveiled plans to build a 111 MW photovoltaic park that will be located in south Romania region with an allocation of RON400mn (EUR 83mn), partially funded by renewable energy funding from the European Union. This will become the country’s most enormous such undertaking.

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