Some notable renewable assets takeovers of local companies by energy giants in Romania – Miner News


Now that the transformation towards green energy seems inevitable, convectional energy companies are starting to adapt to the shift. Some of them are opting to transform them entirely, while others are choosing to do it partially. A good example is two giant companies that have been in the energy industry for quite some time in Romania. The pair took over some renewable assets in their localities in December. There has been a rise in demand for wind and solar parks in the country.

One of the companies is Hidroelectrica, which is a hydropower company controlled by the state. The announcement of the acquisition became public on 23rd December. There were other interested parties, both locally and internationally. However, based on merit, since the process was highly competitive, Hidroelectrica won the contract. Consequently, it took over the Crucea wind farm, which has a capacity of 108 MW.

Its previous German owners have been operating it since 2014. Since its development by STEAG, it remains among the most modern and well-maintained inshore wind farms within the Romanian boundaries. It has up to 36 Vestas turbines, and each one has a capacity of 3 MW. As much as its acquisition price remains a mystery, its value was €192 million back in 2013, according to the European Bank for Reconstruction and Development (EBRD). It comes at a time when Hidroelectrica is thriving to add its renewable capacities. According to the strategy, the company remains to diversify its energy with 100% green energy going forward.

A week before that, Engie Romania was part of yet another similar takeover. It took over a photovoltaic (PV) park in Cristuru Secuiesc, Harghita County. According to its statement, the capacity is 9.3 MW. This particular park comprises two farms. Its developer and one of the owners is Soventix and Alpin Solar, precisely its subsidiary, Ever Solar SA.

The farms have been in existence since 2015. Their production is around 55 GWh, enough to power 34,000 households for an entire year. According to the company’s president and CEO, Eric Stab, it is a step towards Engie Romania’s 2030 forecast. It means a fast energy transition and the possibility of becoming one of the leading investors in renewable energy. Given an announcement made in November, OVM Petrom is also planning to diversify. It has had its focus and operations in power sectors, mostly natural gas and oil, for so long. However, it intends to change that by developing a photovoltaic park. Its intended location is southern Romania, whereas the capacity will be 111 MW. Its worth is around €84 million, and the European Union is willing to fund it partially with the funds set aside for green energy. If it becomes a success, it will be quite a big project in the country as far as green energy is concerned.

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