MetaWealth enters BESS market with planned EUR 22 mln project in Romania

MetaWealth, a European real assets investment platform until now focused on real estate, has entered the advanced battery energy storage systems (BESS) market with several large-scale energy storage projects in Romania. It plans to invest EUR 22 million to develop BESS systems with a capacity of 130 MWh, according to Profit.ro.

The plans were announced in January, while now MetaWealth announces the partnership with the contractor, Parapet. Parapet and MetaWealth have now formalised a partnership for the development of a battery energy storage project (Battery Energy Storage System – BESS) in Dumbrava, Neamț County.

The Dumbrava installation will have a capacity of 50 MW / 100 MWh and will include 20 BESS units, 5 PCS (Power Conversion System) units, and a 20/110 kV electrical transformation station, equipped with a power transformer.

Besides the includes a 100 MWh autonomous battery system in Dumbrava, Neamț County (Romania), the EUR 22 million project includes 30 MWh of co-located storage to be installed in several locations connected to the existing electricity grid.

The first 30 MWh will become operational in the third quarter of 2026, and the entire 130 MWh capacity will be put into operation by the fourth quarter of 2026.

MetaWealth said that these projects represent the basis of a long-term strategy to develop a Romanian energy storage platform, intending to develop an additional capacity of approximately 650 MWh in several locations, totalling EUR 110 million.

Founded in 2012, Parapet operates as an EPC contractor for photovoltaic, wind, and energy storage projects, providing integrated engineering, procurement, and construction services.

The founders and owners of MetaWealth include two real estate investors and developers: Michael Topolinski and Richard McLaughlin-Duane.

(Photo: Malpetr/ Dreamstime)