Romanian state-controlled hydropower company Hidroelectrica announced that it signed on December 23 an agreement to take over the 108MW wind farm Crucea in the eastern part of the country from the German owners. The company said the transaction took place "following a highly competitive process which involved both local and international bidders."

Developed by German group 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 STEAG's stakes in Romanian subsidiaries Crucea Wind Farm and STEAG Energie Romania.

Hidroelectrica hasn't mentioned the value of the transaction. Still, the European Bank for Reconstruction and Development (EBRD) evaluated the project at up to EUR 192 million in 2013 during the financing stage.

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

editor@romania-insider.com

(Photo source: Hidroelectrica Facebook page)