Romania's Antibiotice commissions 2.5 MW PV plant

The solar park, located at Antibiotice's industrial platform in the northeastern city of Iasi, will produce roughly 3,500 MWh per year, reducing greenhouse gas emissions by over 2,000 tonnes a year, the company said in a statement filed with the Bucharest Stock Exchange, BVB.

The PV project received EU funding of 4.08 million lei ($885,021/820,153 euro) through the National Recovery and Resilience Plan (NRRP), while the remaining costs were covered by the company's own funds, for a total investment of 11.8 million lei, as per the statement.

The solar park, which spans 31,428 sq m, was built over a period of four months by Romanian construction company Parapet.

Antibiotice also said that this year it will install an array of PV panels with a planned total capacity of 1.2 MW on its buildings. After commissioning this PV array, up to around 35% of the company's electricity needs will be covered by green energy, it said.

Antibiotice produces 160 generic drugs for human use, veterinary drugs and Nystatin, an active ingredient. The company employs over 1,400 at its research centre and production facilities in Iasi. The two biggest shareholders in Antibiotice are Romania's health ministry with a stake of 53% and retail investment fund SIF Oltenia with 26.9%.

Founded in 2012, Parapet is a Romanian construction company focused on road safety and renewables projects. It has offices in Romania's Cluj-Napoca and Nuremberg, Germany.

Antibiotice's shares traded 0.29% higher at 1.715 lei as at 1512 CET on Thursday on the Bucharest bourse.

(1 euro=4.973 lei)