Romanian group Electrica enters the renewable energy market

By Jerom Bolt
The Electrica Group enters the market for the production of electricity from renewable sources with the acquisition of the Stăneşti Photovoltaic Park, with an installed capacity of 7.5 MW.
”Electrica Furnizare S.A., part of the Electrica Group, announces the entry on the electricity production market by signing a sale-purchase contract with Raylexo Limited and Long Bridge Management and Administration S.R.L. in order to purchase the Stăneşti Photovoltaic Park, from Giurgiu County, owned by Long Bridge Millennium SRL. With an installed capacity of 7.5 MW and an operating capacity limited to 6.8 MW, the Stăneşti Photovoltaic Park is located on an area of 17.5 ha and was built between October 2012 and January 2013, starting to inject energy. electricity network in February 2013 ”, announces the company.
The acquisition made by Electrica Furnizare S.A., leader on the electricity supply market in Romania, is a first step to achieve the objective of vertical development of the Electrica Group, by entering the electricity production market, especially from renewable sources.
“The expansion of the electricity value chain, especially in the production area from renewable sources, is one of the important objectives of the Electrica Group Strategy for the period 2019-2023. We are aware of the importance of decarbonising the energy sector and we are concerned about sustainable business development, especially in the context of the new challenge launched by the European Commission for the Member States – the Green Deal or the New Green Pact. At least for the next decade, sustainability certainly means being green in terms of production, because the main goal of the Paris Agreement is for energy production from renewable sources to exceed 30% by 2030 in the European Union. Of course, sustainable development means for us that we are concerned that such projects bring added value to the business and investors, consolidating the results of the Electrica Group. In this sense, we further analyze other potential opportunities for inorganic growth, in accordance with our strategy “, said Corina Popescu, General Manager of Electrica SA.
Electrica Furnizare, the electricity and natural gas supply subsidiary of the Electrica Group, provides services to approximately 3.6 million end customers.
Electrica Furnizare is the market leader with a total market share of 19.83%, with a share of 53.15% on the regulated market and 11.64% on the competitive market (according to the ANRE report for the first three months of 2020) .