Econergy Group, an Israeli developer, has finalized an agreement for the sale of its 214MW Niculești solar project in Romania, marking a significant milestone in its strategic growth. The project, which has already secured building permits and is poised for construction, was sold to an undisclosed subsidiary of a prominent Balkan conglomerate. The transaction was facilitated with the support of Kommunalkredit, acting as the exclusive M&A advisor.
According to Econergy Group's co-founder and chief executive Eyal Podhorzer, the sale highlights the company's leadership position in the Romanian market and underscores the value of its robust project pipeline.
See also: Ratesti Solar Project with 155MW Capacity in Romania Commences Commercial Operations
Podhorzer stated, “We have an impressive in-country portfolio and the sale demonstrates clearly the value of our pipeline of projects. Some of these we will operate and generate income from the sale of electricity and management services, and some are intended to be sold, giving the company a diverse range of income sources.”
The Niculești solar project is part of Econergy's broader strategy to diversify revenue streams through electricity sales, project development, and management services. The company currently manages a pipeline of approximately 2GW of projects in Romania, with 246MW already operational and another 800MW in various stages of development and construction. Notably, 198MW of these projects are expected to be connected to the grid by the end of 2024.
See also: Econergy Launches 92MW Solar Park in Parau, Romania, Strengthening Renewable Energy Portfolio
“This agreement aligns with our vision for 2024 as a pivotal year for Econergy Group,” Podhorzer added, highlighting the recent achievements in project connectivity and strategic asset sales in Romania.
