Romanian logistics developer Element Industrial and TESLA Group sign deal to produce green energy

Slovakian sustainable energy solutions provider TESLA Group will produce and operate photovoltaic energy on the rooftops of ELI Parks projects in Romania following a partnership with local industrial and logistic developer Element Industrial.

The first project to be fitted with photovoltaic panels is ELI Park 4 (a new 20,000 sqm building), which will be delivered in Bucharest during the second quarter of 2023.

“This partnership reflects our strategy to develop a sustainable portfolio that will allow our tenants to cover at least 30% of their consumptions from green energy with a direct positive impact on the total occupancy cost,” said Andrei Jerca, Managing Director of Element Industrial.

In his turn, Dušan Lichardus, Chairman of the Board TESLA Group, said: “We are present in Romania’s renewable energy sector development since 2010, currently operating over 20MWp of ground-mounted PV parks and developing an additional 900 MWp in ground-mounted technology. Through this partnership with Element Industrial, we focus on conceptual solar energy innovation for long-term sustainability, which is our key mission.”

He added: “We brought engineering teams of both companies together to optimize the construction of buildings for easy PV rooftop installation before their physical construction. This reduces the costs and time to construct a local power plant, bringing higher safety to the buildings and operational efficiency to the PVs.”

Element Industrial is currently developing a class A logistics park in the Bucharest North West area, adjacent to the future A0 Highway, where, by the end of 2022 will have a 100,000 sqm delivered portfolio. The company aims to have around 200,000 sqm delivered throughout the country by 2023, with new projects in Ploiesti, Bacău and Braila.

Element Industrial is a joint venture between Element Group, founded by Ionuț Dumitrescu, and D Craig Real Estate, the real estate division of the investment fund D Craig Holding, controlled by Sacha Dragic. The CEO of D Craig Real Estate is Anca Damour.

(Photo source: the company)