Visual Fan to build 3.2 MW PV plant for Constanta Shipyard

The contract is worth more than 1.5 million euro ($1.6 million) and will be funded through Romania's National Recovery and Resilience Plan, Visual Fan said in a filing to the Bucharest Stock Exchange, BVB, on Wednesday.

The rooftop-mounted solar plant, spanning 47,000 sq m, will comprise 5,472 PV panels. The plant is expected to generate 4,217 MWh of green power In its first year of operation, contribute to the reduction of greenhouse gases by around 2,608 tonnes annually, and enable savings on energy costs of more than 9 million euro over the next twenty years.

Last month, 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 2023, Visual Fan booked a net profit of some 6.62 million lei ($1.44 million/1.33 million euro) on a turnover of around 134 million lei, it said in an annual financial report filed with the BVB on Tuesday.

Visual Fan's shares traded 1.35% higher at 15 lei as at 1236 CET on Friday on the Bucharest bourse.

Constanta Shipyard's shares changed hands 10.56% higher at 3.98 lei as at 1311 CET on Friday on the BVB.

(1 euro=4.9751 lei)