Austrian renewable energy company Enery Power Holding said that it has agreed the acquisition of a 36 MW solar portfolio in Romania.
The portfolio consists of five solar power plants, commissioned between 2013 and 2014, with annual electricity generation of 41 GWh, located near the cities of Bucharest, Arad and Cluj. The majority of the portfolio’s output is marketed under long-term power purchase agreements (PPAs) with Engie Romania.
Earlier in September, Canadian-based Jade Power Trust said that it has signed an agreement with Austrian renewable energy company Enery Power Holding on the sale of its RES assets in Romania (62 MW in solar power plants) and the Netherlands for a sum of 71 million euros. Thus, Austrian Enery will acquire all of Jade Power’s subsidiaries in Romania (Transeastern Hidroelectrica Del Ucea and Transeastern Rott Energy) as well as its stakes in subsidiaries Power LIVE One, Rott Energy, Zagra Hidro, Corabia Solar, Holmron Renewable Energy and East Wind Farm.
Enery CEO Richard Konig said that, while the company is already developing greenfield projects in Romania, this represents the initiation of its RES presence in the fast growing and dynamic Romanian renewable energy through the acquisition of operational renewable capacity in a diversified mix of wind, solar and hydro generation. As part of the transaction we will sell the mix of diversified renewable energy production via long-term power purchase agreements to key industrial off-takers in Romania, who are securing their long-term electricity needs at a substantial discount to current market prices.