Econergy has finalized the sale of its 214 MW Niculești solar project in Romania, further solidifying its position with a portfolio of nearly 2 GW of projects.
The project, at an advanced stage of obtaining building permits, is expected to reach the “ready-to-build” stage soon.
Agreement with Balkan Conglomerate
The agreement was signed with a subsidiary of a major Balkan conglomerate, with support from Kommunalkredit acting as the exclusive M&A advisor.
This sale marks a pivotal step in Econergy’s strategy to diversify its revenue streams through the sale of developed projects, management, and construction services.
Leading Independent Power Producer in Romania
As a leading independent power producer in the Romanian market, Econergy boasts a project portfolio of approximately 2 GW in Romania.
Of this total, 246 MW are already connected and operational, while 800 MW are under development and construction, with 198 MW expected to be connected by the end of 2024.
CEO’s Statement
Eyal Podhorzer, co-founder and CEO of Econergy, highlighted the agreement as a reflection of the company’s leading position in the Romanian market and the value of its project pipeline.
He emphasized the company’s diversified approach, with some projects operated for revenue generation through electricity sales and management services, while others are sold to provide a diverse range of income sources.
Future Goals and Progress
Podhorzer also indicated that 2024 will be a pivotal year for Econergy, with significant progress already made through the connection of two large projects in Romania and this recent sale.
The company remains focused on advancing its local projects towards the construction phase.
Econergy’s diversified revenue strategy and robust project portfolio underscore its dominant position in the Romanian market. The company continues to make strides towards its goals for 2024 and beyond.