BVB electricity supply and distribution group Electrica (EL) will buy five companies that own and operate photovoltaic power plants for EUR 35 mln (subject to adjustments). The sellers are two companies, MT Project and HiTech Solar Investment, which together own 100% of each of the five target companies, Profit.ro reported.

The five companies own and operate photovoltaic power plants with a total installed capacity of 30.95 MWp, respectively, a total operating capacity limited to 28.89 MW.

The transaction will be financed from a bridge loan in the amount of up to RON 750 million, which Electrica will contract from a consortium of banks formed by Erste Bank and Raiffeisen Bank and/or from the own funds of the Electrica Group.

The five target companies are TCV Impex., ACV Solar Technology, TIS Energy, Delta & Zeta Energy and Gama & Delta Energy.

andrei@romania-insider.com

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