Romania: Hidroelectrica considers solar project acquisition

, SEE Energy News

In February, Romanian Competition Council announced that it has approved the acquisition of the shares held be German STEAG in its Romanian subsidiaries – STEAG Energie Romania and Crucea Wind Farm, by Hidroelectrica. The company operates the 108 MW Crucea wind farm, commissioned in 2014. The acquisition is part of Hidroelectrica’s strategy to diversify its portfolio by acquiring other renewable energy production capacities. Financial details of the transaction were not disclosed. However, by comparing it to the previous Hidroelectrica’s wind acquisition from Vestas in 2019, when the company paid 136 million euros for 80 % stake in 160 MW wind farm, it is estimated that the deal with STEAG was worth around 100 million euros.

Hidroelectrica is now looking for a legal advisor in the process for the acquisition of Portland Trust Renewables 1, a developer of a project for the construction of 131 MW solar power plant in southern part of the country. Portland Trust Renewables 1 has a technical connection approval from Transelectrica for a 131 MW solar power plant in Ratesti, which was updated last year. This future plant will be connected to the transmission network through a new 220 kV substation, later connected to the 220 kV Bradu-Targoviste line. Transelectrica estimates that the park will become operational in 2022.