Econergy recently signed an agreement for the sale of its Niculești solar project. The project, with a capacity of 214 MW, is at an advanced stage of obtaining building permits and should soon reach the “ready-to-build” stage.
Agreement with a Balkan conglomerate
The agreement was signed with a subsidiary of a major Balkan conglomerate, with the support of Kommunalkredit, which acted as exclusive M&A advisor. This sale marks a key step in Econergy’s strategy of diversifying its revenue sources through the sale of developed projects, management and construction services.
Market leadership in Romania
As a leading independent power producer in the Romanian market, Econergy has a project portfolio of around 2 GW in Romania. Of this total, 246 MW are already connected and in commercial operation, while 800 MW are under development and construction, of which 198 MW should be connected by the end of 2024.
CEO statement
Eyal Podhorzer, co-founder and CEO of Econergy, said:
“This agreement reflects our leading position in the Romanian market and the value of our project pipeline. Some projects will be operated to generate revenue through the sale of electricity and management services, while others will be sold, offering a diverse range of revenue streams for the company.”
Future objectives
Podhorzer also mentioned that 2024 will be a defining year for Econergy, with significant progress already made through the connection of two major projects in Romania and this sale, while continuing to develop their local projects towards the construction phase.
This diversified revenue strategy and Econergy’s strong project portfolio confirm its dominant position in the Romanian market. The company continues to make progress towards its objectives for 2024 and beyond.
