Romanian state-controlled electricity distribution group Electrica (BVB: EL) announced that it took over the project company that is developing a PV park with 12MWp installed capacity and 9.75MW deliverable to the power grid.

The company paid EUR 0.6 mln to the developers of the project, Vlad-Mihai Ungureanu and Tudor-Nicolae Ungureanu, Economica.net reported.

The project located in Vulturu commune, Vrancea County, is in the "ready-to-build" phase.

The transaction is part of the Electrica Group's strategy established for the period 2019-2023, which also considers the expansion of the electricity value chain, especially in the area of ​​electricity production from renewable sources.

andrei@romania-insider.com

(Photo source: Florin Brezeanu/Dreamstime.com)