Romania: STEAG Energie Romania acquisition approved

, SEE Energy News

The acquisition of the shares held by German STEAG in its Romanian subsidiaries – STEAG Energie Romania and Crucea Wind Farm was approved by the shareholders of Romanian electricity producer Hidroelectrica. The latter 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.