Real estate developer Portland sells 150MW PV park project to foreign investors

Real estate developer Portland Trust, with a focus on the office buildings segment, has sold a wind farm project - meaning the land plus the construction and power grid connection permits - to two investors.

The foreign investors are Tel Aviv listed Nofar Energy, the third-biggest Israeli renewable energy player focusing on PV and power storage, and Ecoenergy, a developer of renewable energy projects based in the UK and operating in Spain, Italy, Poland and Romania.

The project is expected to involve EUR 120 mln of investments, according to estimates of Ziarul Financiar daily.

"The process is structured as a share deal, and its completion is anticipated for the end of October 2021," announced the law firm PeliPartners, which advised the seller.

Power grid operator Transelectrica estimates that the park will be put into operation in 2022. In the spring of this year, Hidroelectrica, the largest electricity producer in Romania, had initiated the bidding procedures for this project.

(Photo: Pixabay)