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Nala Renewables acquires 61 MW PV project in Romania

Jul 11, 2024, 1:37:34 PMArticle by Alexandru Cristea
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July 11 (SeeNews) - UK-based green energy developer Nala Renewables said on Thursday that it has signed a deal to acquire a 61 MW photovoltaic (PV) project in western Romania from local energy company Monsson.

Nala Renewables acquires 61 MW PV project in Romania
Photo by Zbynek Burival on Unsplash

The development of the solar project is expected to start in the third quarter of 2024, Nala Renewables said in a press release. The plant will be completed and connected to the Romanian electricity grid next year.

The value of the transaction was not disclosed.

Once it starts operations, the PV park will generate around 80,000 MWh per year, covering the electricity use of some 13,000 households and reducing CO2 emissions by about 39,000 tonnes annually.

The project includes an option for further capacity expansion through the addition of a battery energy storage system (BESS), which the UK-based developer plans to integrate.

"The PV plant benefits from a long-term offtake agreement, providing revenue security for at least twelve years from commissioning. The terms of the agreements are not disclosed," Nala Renewables noted.

"We expect to continue to be active in the [Central and Eastern Europe] CEE region in the coming years," Nala Renewables director Will Herlinger commented.

Nala Renewables is a global power and renewable energy platform focused on solar, wind and battery storage projects in Europe, Latin America and the United States. It is a joint venture between Singapore-based commodities group Trafigura and Australian infrastructure investment firm IFM Investors. Nala Renewables aims to build a global portfolio of renewable energy projects with a cumulative generative capacity of 4 GW by 2025.

Monsson has been present in Romania's renewable energy sector for over 17 years, having a portfolio of over 5 GW of wind and photovoltaic projects.

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