Romania's Agrovoltaics, Transelectrica sign grid connection deal

The contract will allow for more than 200,000 Romanian households to be supplied with green energy and is part of Agrovoltaics' plan to develop a 500 MW photovoltaics (PV) plant in the western commune of Simand, Arad county, Restart Energy said in a social media post.

The Simand plant will be the second-largest solar park in Romania and will generate over 800,000 MWh annually, contributing to the reduction of carbon emissions by around 400,000 tonnes per year. Over the course of its lifespan, the PV plant will reduce carbon dioxide emissions by 12 million tonnes, leading to environmental benefits worth more than $1 billion, as per the statement.

In 2023, Restart Energy's net profit plunged by 77% to 5 million lei.

Blue-chip Transelectrica's shares traded 0.3% lower at 33.1 lei as at 0952 CET on Tuesday on the Bucharest bourse.

(1 euro=4.9761 lei)