Romanian utility Societatea Energetica Electrica SA, commonly known as Electrica, has acquired a domestic company with rights to a 57-MW solar project in the northwestern part of Romania.
Electrica announced the acquisition of New Trend Energy, the special purpose vehicle developing the project, for EUR 3.25 million (USD 3.54 million) in a bourse filing on Monday. The sellers are Romanian businessmen Emanuel Muntmark and Catalin Mrejeru.
Initially agreed upon in the summer of 2021, the transaction grants Electrica ownership of a photovoltaic (PV) project located in Doba, Satu Mare county, near the borders of Hungary and Ukraine. The Satu Mare 3 project is currently shovel-ready.
This acquisition aligns with Electrica's strategy to expand its services across the electricity value chain, emphasizing renewable power generation. According to its website, Electrica serves approximately 3.8 million customers and has nationwide coverage.
