Premier Energy Group has announced that its subsidiary, Alive Renewable Holding Limited, has successfully acquired a 90% stake in Development Power Solar Energy. This company holds the rights to develop a 49 MW solar power plant and a 16 MWh energy storage facility in Buzau County, eastern Romania. The solar plant is expected to be completed and operational in the second half of 2025.
Development Power Solar Energy is one of two companies established by Mihai Cristian Ciolacu, the nephew of Prime Minister Marcel Ciolacu, and is developing solar power plants funded through the National Recovery and Resilience Facility. Both companies have already secured network connection permits from the electricity transmission system operator, Transelectrica. Premier Energy had previously announced its intention to acquire both companies in June 2024.
In addition to the solar acquisition, Premier Energy revealed that its Moldovan subsidiary, Navitas Energy, has acquired a 100% stake in Elteprod Wind. The company owns 16,238 square meters of land near Stefan Voda in Moldova. Premier Energy plans to assess the feasibility of developing an 8 MW wind farm at this site.
