Romanian hydropower group Hidroelectrica takes over major wind farm

By bne IntelliNews January 3, 2021

State-controlled hydropower company Hidroelectrica announced that “following a highly competitive process which involved both local and international bidders” it signed an agreement to take over the 108MW wind farm Crucea in the eastern part of the country from its German owners on December 23.

Hidroelectrica says it remains focused on diversifying its production by adding high-quality renewables capacities to its portfolio, as part of its recently approved development strategy. The company restated its objective of remaining 100% green throughout the portfolio diversification process.

Developed by STEAG and commissioned in 2014, Crucea Wind Farm is one of the most modern and best-maintained onshore wind farms in Romania with an installed capacity of 108MW. The farm comprises 36 Vestas turbines of 3MW each.

The deal involves the shares of German group STEAG in Romanian subsidiaries Crucea Wind Farm and STEAG Energie Romania. The price of the stakes was not mentioned, but the project was evaluated by the European Bank for Reconstruction and Development (EBRD) at up to €192mn during the financing stage in 2013.

 
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Russia for first time overtakes Turkmenistan in gas exports to China

Russia in February for the first time overtook Turkmenistan on a monthly basis to become the largest pipeline supplier of natural gas to China, according to General Administration of Customs of China ... more

Ukraine's DTEK seeks $350mn to restore energy capacity after Russian attacks

Ukraine's leading private energy company, DTEK, has sounded the alarm, indicating an urgent need for $350mn to recuperate lost capacity resulting from Russia's relentless assaults on thermal power ... more

France's spending on Russian LNG surges to over €600mn this year

France's spending on Russian liquefied natural gas (LNG) surged to over €600mn this year, EU data reveals, Politico reports. The increase comes as French President Emmanuel Macron becomes ... more

Follow Us On

Most Read

  1. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  2. The models are wrong, climate change is accelerating faster than predicted
    4 days ago
  3. Don't mention the "D" word - Ukraine
    8 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    6 days ago
  5. COLLINGWOOD: Ukraine’s power blackout means a dark future
    6 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    29 days ago
  2. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  3. BRICS announce a blockchain-based payment system to create a common currency
    1 month ago
  4. Saudi Arabia to scale back plans for Neom city
    18 days ago
  5. Iran vs Israel: Who is better equipped for war?
    15 days ago

Reports

Dismiss