Expanding Renewable Energy Footprint in Central and Eastern Europe
Nala Renewables, a leading renewable energy company, has announced the acquisition of a 61MWp (megawatts peak) solar photovoltaic (PV) project located in western Romania. The project was previously owned by Monsson, a prominent renewable energy group in the region.
Details of the Solar Project Acquisition
– The solar project is expected to be connected to Romania’s electrical grid by 2025, with construction set to begin in the third quarter of 2023.
– The financial details of the transaction have not been disclosed, but the deal represents a significant investment by Nala Renewables in the Romanian renewable energy market.
– Sebastian Enache, the head of mergers and acquisitions at Monsson, expressed the company’s excitement to partner with Nala Renewables on this project and support their expansion efforts in the Central and Eastern Europe (CEE) region.
Monsson’s Commitment to Sustainable Energy Transition
Monsson is deeply committed to playing a crucial role in establishing a fair and equitable transition to clean energy, as well as building a reliable energy infrastructure. The company believes that renewable energy can be effectively utilized as a base load, and they incorporate large-scale battery energy storage systems (BESS) into the design of all their projects.
Sustainability and Climate Impact
Once operational, the solar plant is expected to produce 80,000 megawatt hours (MWh) of clean energy annually, which is sufficient to power 13,000 households. Moreover, the project will offset 39,000 tons of CO2 equivalent emissions per year, making a significant contribution to international efforts to mitigate climate change.
Potential for Capacity Expansion
The solar project also presents an opportunity for future capacity expansion through the potential addition of a BESS. Nala Renewables plans to integrate this energy storage system into the project to enhance its reliability and efficiency.
Revenue Security and Long-term Offtake Agreement
The project benefits from a long-term offtake agreement, ensuring revenue security for a minimum of 12 years after its commissioning.
Romania’s Renewable Energy Potential
Romania’s favorable regulatory framework and ambitious renewable energy targets have made the country an attractive destination for the development, acquisition, construction, and operation of renewable energy projects. Nala Renewables’ latest acquisition underscores the company’s commitment to expanding its presence in the CEE region.
Will Herlinger, the director of Nala Renewables, expressed the company’s plans to remain actively engaged in the CEE region in the coming years, capitalizing on the significant growth opportunities in the renewable energy sector.
