Nala Renewables has finalized an agreement with renewable energy group Monsson to acquire a 61MW solar project located in western Romania. The project is slated to commence construction in the third quarter of 2024, with operations expected to begin and integration into the Romanian power grid anticipated in 2025.
One notable feature of the project is its potential for expansion, with provisions in place for integrating a battery energy storage system (BESS), enhancing its capacity and operational flexibility. The solar project secures revenue stability through a long-term offtake agreement, providing assured income for at least 12 years following commissioning.
“We're delighted to have closed our first acquisition with Monsson who have significant experience in developing and operating renewable energy projects in Romania,” commented Nala Renewables director Will Herlinger.
He further emphasized the strategic importance of Romania in their expansion plans: “It's an attractive country to develop, acquire, build and operate renewable projects, in part due to a supportive regulatory environment driven by ambitious renewable energy targets. We expect to continue to be active in the CEE region in the coming years.”
Sebastian Enache, Head of M&A at Monsson, expressed satisfaction with the partnership: “We are pleased to partner with Nala Renewables on this project and support their activities in the CEE region. Monsson is committed to its role in ensuring a just transition to clean energy and a stable energy system. All of our projects have large battery energy storage systems considered in their design because our vision is that renewable energy can be delivered also as base load.”
