Romanian state-controlled hydropower group Hidroelectrica (BVB: H2O) is hiring consultants to assist it in the acquisition, over a three-year time horizon, of four project companies that develop photovoltaic parks with a cumulative capacity of a maximum of 360 MW, according to Profit.ro.
Hidroelectrica targets nine companies, which have a total portfolio of 4 photovoltaic park projects with a total installed capacity of 360 MW, currently under various stages of development.
The company plans to sign binding contracts for the purchase of the entire capital of these project companies and to subsequently complete their takeover, gradually, as their targeted photovoltaic parks are completed, put into operation, and begin to operate commercially.
For now, Hidroelectrica is looking for consultants to perform due diligence analyses, including technical ones, on photovoltaic projects and their owners, including on contracts for the construction of targeted solar renewable energy production units, and to provide assistance in negotiating and signing future possible takeover agreements.
Hidroelectrica currently has 188 hydroelectric plants, with a total installed capacity of 6,400 MW, as well as a 108 MW wind farm, giving it a total production capacity of 6,508 MW.
Hidroelectrica's investment strategy for the period 2021-2025 foresees the company building a portfolio of 50 MW photovoltaic production units. The largest is a 45 MW profile park on a 55-hectare plot of land in the Tudor Vladimirescu commune in Brăila county, for which the company submitted an environmental consent request in February this year.
Hidroelectrica has also started the contracting procedures for the necessary works for the "turnkey" implementation of a pilot project to build a floating photovoltaic park on the Olt, with an installed capacity of 10 MW, as well as for the installation of solar panels of approximately 2.2 MW on the roofs of the buildings of 20 hydroelectric power plants on the same river.
iulian@romania-insider.com
(Photo source: Inquam Photos/Octav Ganea)
