Croatia’s ENNA Solar, part of the ENNA Group, has signed an agreement with Austria’s Kraftfeld Energy to acquire a ready-to-build solar project in Romania. The deal includes full ownership of special purpose vehicle PVP Cepheus, which developed the project in Giurgiu county.
The 87.5 MW solar plant will be constructed in Mihăilești, approximately 25 km southwest of Bucharest, occupying 93 hectares. Construction is set to begin in Q3 2025, with commercial operations and grid connection expected by Q3 2026. The facility is projected to generate 133 GWh of electricity annually.
This acquisition represents ENNA Solar’s first major international investment, with an estimated project cost of €60 million. It aligns with ENNA Group’s decade-long strategy to invest €330 million in solar projects across Croatia and abroad. Group Chairman Bostjan Napast emphasized this move reinforces their commitment to renewable energy transition and expands their portfolio beyond Croatia.
The transaction awaits approval from Romanian competition and foreign investment regulators. Upon completion, ENNA Solar will assume full ownership of the project.
ENNA Group currently operates or has in development approximately 50 MW of renewable energy capacity, with an additional 350 MW in planning phases. The company focuses on solar and wind power investments through its Energy division as part of its sustainable energy strategy.
