In a major step toward advancing Romania’s green energy goals, Turkey’s YEO Group, through its local subsidiary Defic Globe Enerji, has formed a strategic joint venture with Shanghai Electric Power & Energy Development (SEP). This partnership underscores YEO Group’s commitment to expanding its renewable energy footprint in Eastern Europe, fostering sustainable growth, and driving innovation in the region’s energy sector.
Investment in Solar Power Projects YEO Teknoloji, a key player in Romania’s renewable energy landscape, has already developed two solar power projects in the country, with more in the pipeline. The new investment agreement with SEP, one of China’s leading energy companies, focuses on two large-scale solar plants with a combined capacity of 129 MW. The project requires a total investment of 65.8 million euros, with construction expected to begin soon.
Structure and Shareholding Last month, YEO Teknoloji formalized its partnership with SEP to co-invest in these solar plants under the banner of Defic Globe Enerji, the Romanian subsidiary where YEO holds a 51% stake. Following approval from Romanian authorities, 75% of the subsidiary’s shares were transferred to SEP, leaving Defic Globe with a 25% stake. However, Defic Globe retains the option to increase its ownership to 30%.
The solar projects will involve the development of power plants, advanced transformer substations, internal electrical networks, and key connections to the national grid, marking an important step in Romania’s transition to cleaner energy.
Ongoing Solar Developments Defic Globe Enerji has already made significant strides in Romania’s renewable energy sector. In 2023, the company completed its first solar project in the country, the Caracal Solar Power Plant, with an installed capacity of 18 MW, generating about 26 GWh of electricity annually. The Caracal plant, the first major Turkish solar project in Romania, is expected to reduce 32,300 tons of CO2 emissions annually.
In 2024, Defic Globe continued its momentum, breaking ground on three new solar plants in Bobicesti, with capacities of 21.3 MW, 14.1 MW, and 7.2 MW. These plants are expected to generate 34,400 MWh of electricity per year, with all three projects slated for completion by the second quarter of 2025.
Through these ventures, YEO Group and Shanghai Electric are making a significant contribution to Romania’s renewable energy infrastructure, supporting the country’s push for a more sustainable and greener energy future.
