Romanian power distributor Premier Energy announced on Friday that it has secured ownership of 86 megawatts (MW) of solar projects domestically, in partnership with a unit of Greece's Motor Oil Group, for an undisclosed sum.
The projects were acquired by Premier Energy's subsidiary, Alive Renewable Holding, in collaboration with Motor Oil Renewable Energy Single Member SA (MORE), the green energy division of Motor Oil Hellas Corinth Refineries SA.
Both photovoltaic (PV) projects are slated to incorporate battery storage, with a combined energy storage capacity of 18 megawatt-hours (MWh).
Premier Energy, along with MORE and Alive Capital SA, part of the Premier Energy Group, will jointly oversee the development of these projects. Construction is expected to be completed by the second half of 2025.
According to Premier Energy, these acquisitions align with its strategic goals to expand its presence in the renewable energy sector and contribute to efforts addressing climate change. The company currently manages or is developing 1 gigawatt (GW) of wind and solar assets across Romania and the Republic of Moldova.
