Romania is a new market to watch for solar, with some recent developments in its solar capacity. This comes both from the announcement that Alternus Energy acquired solar parks in Romania contracted under EU incentives until 2028. Furthermore, this week a 100 MW panel production line was acquired by the Romanian manufacturer Karpat Solar. A sunny week for Romanian solar all around.
Alternus Energy (ALT) announced completion of the acquisition of two additional solar parks in Romania from Renesola Power, a leading international developer of solar parks, following definitive sales contracts signed between the parties in December 2020. Lucas Est SRL has an installed power capacity of 6 MWp and is located in Dumbrava, in western Romania. Ecosfer Energy S.r.l. has an installed capacity of 9.4 MWp and is located in Costeştii din Vale, approximately one hour outside of Bucharest.
Lucas Est SRL has been in operation since 2013, producing a total of 30 GWh of solar power since 2017. Ecosfer also started operation in 2013 and produced a total of 48 GWh since 2017. This performance shows stable annual recurring revenues of approximately €4.5 million that are contracted under EU incentive programs until 2028. After this date, the parks will continue to generate income from selling energy under Power Purchase Agreements (PPAs) and/or to the country’s power grid. Both parks have a minimum remaining useful life until at least 2038.
This news comes within a week of the announcement that a 100 MW solar panel production line was acquired by the Romanian manufacturer Karpat Solar. The modules will be produced in Trannsylvania, and to start with will supply the Romanian market, before reaching out to sell to the EU more widely.
Igor Herrarte, international sales manager of Mondragon Assembly, said: “We foresee a technological diversification as, in addition to the standard modules, we are going to see that companies launch modules for HJT (heterojunction), BIPV (building-integrated photovoltaics) technology, and other niche products suited to European demand.”
This recent activity proves that Romania is a solar market to watch in the coming years.