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Romania's Visual Fan, Waldevar to build PV plant for Rondocarton

Jun 11, 2024, 11:13:45 AMArticle by Alexandru Cristea
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June 11 (SeeNews) - Romanian technology company Visual Fan [BSE:ALW] said on Tuesday that, together with local renewables developer Waldevar Energy, it signed a deal to build a 1 MWp solar photovoltaic (PV) park for corrugated cardboard and packaging producer Rondocarton.

Romania's Visual Fan, Waldevar to build PV plant for Rondocarton
Source: BVB

The engineering, procurement and construction (EPC) contract is valued at almost 3 million lei ($647,920/602,833 euro) and will be funded through Romania's National Recovery and Resilience Plan, Visual Fan, operating under the Allview brand, said in a filing to the Bucharest Stock Exchange, BVB.

The PV plant will be installed on the rooftop of Rondocarton's production building in the southern city of Targoviste. The plant is expected to generate 25,535 MWh of green power over the next 20 years and to contribute to the reduction of greenhouse gases by around 15,755 tonnes annually. The gross green energy production for Rondocarton will be 114.7 tonnes of oil equivalent per year.

In April, Visual Fan said it wants its Allview Solar Energy division to reach a portfolio of 80 MW of contracted solar projects by the end of the year.

In the first trimester of 2024, Visual Fan booked a net profit of 574,017 lei, down by an annual 12%, on a turnover of 13.5 million lei.

Visual Fan shares closed flat at 15 lei on the AeRO market of the Bucharest Stock Exchange on Monday.

(1 euro=4.9765 lei)

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