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    Econergy has sold a 214MW photovoltaic project in Romania

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    Econergy Group has entered into an agreement to sell its 214MW Niculești solar project in Romania for an undisclosed amount. The project, which has reached the ready-to-build stage and obtained building permits, is in an advanced stage of development.

     

    The buyer is an unnamed subsidiary of a prominent Balkan conglomerate, with Kommunalkredit serving as the exclusive M&A advisor for the transaction.

     

    The Israeli developer stated that this project is a significant step in their strategy to diversify revenue streams through electricity sales, selling developed projects, and providing management and construction services.

     

    Econergy has a project pipeline of around 2GW in Romania, with 246MW already connected and operational, another 800MW in various stages of development and construction, and 198MW expected to be connected by the end of 2024.

     

    Eyal Podhorzer, Econergy’s co-founder and chief executive, said “The agreement reflects Econergy’s position as a market leader in Romania and the strengths of our local capabilities. We have an impressive in-country portfolio and the sale demonstrates clearly the value of our pipeline of projects.”

     

    “Some of these we will operate and generate income from the sale of electricity and management services, and some are intended to be sold, giving the company a diverse range of income sources.”

     

    “We previously stated that 2024 will be a turning point in the life of the company and we have already made significant progress with the connection of two large projects in Romania and now with this sale, alongside continuing to progress our wider of projects in country towards readiness for construction.”

     

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