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Canada's Grasshopper Energy, partner to develop 1 GW solar projects in Romania

Canada's Grasshopper Energy, partner to develop 1 GW solar projects in Romania Photo: Pixabay

BUCHAREST (Romania), November 26 (SeeNews) - Global clean energy infrastructure provider Grasshopper Energy said that it has signed a partnership with Romanian entrepreneur Stefan Sturdza to develop, construct and operate solar projects in Romania of up to 1GW, investing in them $1 billion (1.13 billion euro) by 2030.

Romania is a very important market in the European Union, and this agreement reflects the positive advances of investment in clean energy, commitment to combat climate change, and ambition to attract and promote renewable and clean energy projects around the country, Grasshoper Energy said in a press release on Thursday.

"Grasshopper is honoured to play a role in providing Romania with the latest clean energy infrastructure innovation and to support Romania and Europe in combating climate change, the greatest challenge facing our world today," Grasshopper Energy CEO Azeem M. Qureshi said.

The Romanian government aims to increase its renewable energy capacity by 7 GW by 2030 in order to reach the country's ambitious new objective of generating 30.7% of its total energy needs from renewable sources by that year. This partnership is the first stage in Grasshopper's goal of assisting Romania in meeting its capacity targets, the company said.

"This exciting partnership with Grasshopper Energy will pave the road to a cleaner and more sustainable energy infrastructure in Romania and better position our nation within the European clean energy market. The government has set very important and aggressive milestones towards increasing our clean energy production capacity and it is our duty to support it in achieving these important targets and secure a better and greener future for Romania," Prince Sturdza said.

Established in 2007, Grasshopper Energy is a global Canadian company focused on the development, acquisition, and long-term ownership of clean energy assets. The company currently owns $1.8 billion in clean energy assets and has a $6.5 billion global development pipeline.

Stefan Sturdza is the son of the Romanian aristocrat and magnate Dimitrie Sturdza, one of the richest people in Romania.

($=0.8864 euro)

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