Portland Trust sells 255 MW PV park in Romania to Nofar Energy

Developer Portland Trust said on December 12 that it sold the largest photovoltaic (PV) park in Romania to Nofar Energy, a global leader in renewable energy investments. The value of the deal was not disclosed.

The PV park developed by Portland Trust at Corbii Mari, in Dâmbovița county, has an installed capacity of 255 MW and a total surface of 290 hectares. It is bigger than the park developed in Rătești, the first in Portland Trust’s portfolio, with a capacity of 153 MW and a total surface of 165 hectares.

The Corbii Mari project was approved in 2023, and, the company says, from 2024, it will inject approximately 362 GWh per year of renewable energy into the national grid. The park will be able to supply power for around 160,000 households and will reduce the carbon footprint by over 200,000 tonnes.

“Portland Trust has diversified its portfolio with large-scale projects in the green energy segment. This new stage in the consolidation of our portfolio in Romania has allowed us to develop the largest photovoltaic park in Romania in record time. This transaction gives us the confidence to explore this segment in the future and to embark on even more ambitious projects,” said Florin Furdui, Country Manager of Portland Trust Romania.

In total, the projects developed by Portland Trust this year will produce 444,000 MWh/year of renewable energy, enough to power more than 265,000 households - the equivalent of a city like Cluj or Timisoara, the company said.

Portland Trust has been an active developer in Romania and the Czech Republic for nearly 25 years. It has completed over 850,000 sqm of new space, primarily in the office, light industrial, retail and, more recently, green energy sectors.

Nofar is a world leader in renewable energy investments. As of 2020, it is a publicly traded company (TASE: NOFR).

(Photo source: the company)