Econergy Renewable Energy has successfully sold its nearly shovel-ready 214-MW Niculesti solar photovoltaic (PV) project in Romania for EUR 33 million (USD 35.3m), in line with its strategy to diversify income sources. The company anticipates a profit of EUR 29 million from the deal, excluding development costs.
The Niculesti project is currently in its final development phase. Turkish petroleum refining company Tupras Turkiye Petrol Rafinerileri has separately announced the acquisition of two Romanian companies associated with the Niculesti scheme.
Eco Sun Niculesti Srl holds the development rights and permits for the solar project, while Euromec-Ciocanari Srl owns the land rights. The closing of the deal is expected by the end of January 2025, according to Tupras Turkiye Petrol Rafinerileri's filing.
Econergy's project portfolio in Romania now totals 2.2 GW, including 246 MW in operation and 800 MW of schemes in the final stages of development and construction. The company anticipates bringing an additional 198 MW of capacity online in Romania by the end of 2024.
