Romanian electricity distributor and supplier Electrica has finalized the acquisition of a ready-to-build solar project with an installed capacity of 77.5 MW. The project involves the Bihor 1 solar power plant, located near Oradea in northwestern Romania. Electrica acquired the project through its purchase of Foton Power Energy, the company developing the solar plant.
The agreement for this acquisition was initially signed in 2021, with the transaction valued at approximately €4.2 million. This move aligns with Electrica’s strategy to expand its involvement in the electricity value chain, particularly in renewable energy production.
In addition, Electrica recently completed the acquisition of a 57 MW solar project in Satu Mare county, also in northwestern Romania. This project, which is at the ready-to-build stage, was acquired from New Trend Energy for around €3.25 million in 2021.
Electrica Group serves over 3.9 million customers in Romania, with operations spanning distribution, supply, production, and energy services. The company has been listed on the Bucharest and London stock exchanges since 2014.
