Romania’s Electrica inks 19.3 mln euro solar park deal

The undisclosed developer will build the Satu Mare 2 solar park, as well as a 110 kV substation, operating and maintaining the site for three years after commissioning, Electrica said in a report filed with the Bucharest Stock Exchange on Thursday.

Electrica expects the project to be completed by late 2024.

The solar project is financed through non-refundable funds disbursed through Romania’s National Recovery and Resilience Plan (NRRP) in October 2023. According to documents published on Romania’s NRRP project portal, the total financing package is worth 110.1 million lei ($23.8 million/22.2 million euro).

In March 2023, Electrica completed the full acquisition of Sunwind Energy project company from businessmen Emanuel Muntmark and Catalin Mrejeru. In January 2024, Sunwind Energy launched a tender for the EPC contract aimed at the construction of the ready-to-build Satu Mare 2 solar project.

Electrica shares traded 0.76% higher at 13.3 lei as at 1124 CET on Friday on the Bucharest Stock Exchange.