Foreign groups Econergy and Nofar join forces to develop biggest Romanian PV park

International independent power producer (IPP) of utility-scale renewable energy projects Econergy and Nofar Energy, an international renewables company based in Israel with renewables projects in Israel, Spain, Italy, the United States, completed the acquisition of a ready-to-build 155MW photovoltaic (PV) Romania from Portland Trust. The 155MW project is planned to be the largest of this kind in Romania.

The project is assumed to reach an operational start in early 2023.

The total investment in the Ratesti solar project will reach EUR 100 mln, Energyindustryreview.com reported.

Econergy and Nofar Energy acquired a 50% stake each in the project. Econergy will also provide management services, including EPC and O&M negotiations, construction management and PPA and project finance management. Once operational, Econergy shall also provide a long-term Asset Management service.

Schoenherr Romania advised Nofar Energy on the acquisition of a photovoltaic park together with Econergy from Portland Trust.

(Photo source: Pixabay.com)