Econergy Group has signed an agreement for the sale of its Niculești photovoltaic solar project in Romania. The project has a capacity of 214 MW and is in an advanced stage in achieving the building permits, and reaching the ‘ready to build’ stage.
The agreement was signed with a subsidiary of a Balkan Conglomerate, with the support of Kommunalkredit who acted as exclusive M&A advisor.
The sale of the project represents a strategy to diversify the revenue stream through electricity sales, the selling-on of projects it has developed, and management and construction services.
Econergy has about 2GW pipeline of projects in Romania, with 246MW already connected and in commercial operation, and another 800MW in development and construction stages, out of them 198MW are expected to be connected by the end of 2024.
