The sale of hydropower project Suha in Romania is completed, announced Canadian-based Jade Power Trust. The purchase price for the sale is an amount equal to 20 % of the annual free cash, if any, generated by the hydropower project for a period of five years, but did not disclose the buyer’s name, says the statement from the company.
Suha HPP complex ceased operations in the second quarter of 2018 and has been classified as a discontinued operation for the purposes of the company’s financial statements. It consists of two plants on the Suha Mare river and Suha Mica river. Jade Power Trust (former Transeastern Power Trust) entered the Romanian market in 2014, with the takeover of 11 small hydropower plants, with a total capacity of 5.1 MW, acquired mostly from Romenergo. Canadian company continued to invest in Romania in solar and wind projects, and in 2017 they bought from OMV Petrom the Dorobantu wind farm, with a capacity of 45 MW, for which they paid 23 million euros.
In June, electricity distributor and supplier Electrica said that it is negotiating the acquisition of Romanian energy portfolio of Jade Power Trust.