Premier Energy Group, through Alive Renewable Holding Limited, and alongside Motor Oil Renewable Energy Single Member S.A (MORE), have signed the acquisition of two new photovoltaic projects for renewable electricity production in Romania's Buzău county, according to an announcement at the Bucharest Stock Exchange.

These two projects have a combined capacity of 86 MW and an add-on storage capability of 18 MW.

The acquisition is subject to customary competition clearance and FDI approvals.

The development activities will be coordinated by Alive Capital S.A., part of Premier Energy Group. 

Premier Energy and MORE expect to complete the construction of the projects by the second half of 2025.

The acquisition confirms Premier Energy Group's strategy to continue targeting new strategic acquisitions and developing new projects in the field of renewable energy as part of its vertically integrated business model, the company said.

Premier Energy is the third largest natural gas distributor in terms of volumes and network size (over 3,600 km), covering various counties, as well as one of the largest natural gas suppliers in Romania. The company is focused on developing renewable energy infrastructure in Romania and Moldova, with over 1,000 MW of renewable energy generation capacity in ownership, management, or development.

The company is a leader in the electricity market in Moldova, supplying and distributing electricity to approximately 70% of the population, with nearly 1 million consumption points. It currently supplies electricity and gas to approximately 2.4 million supply points in Romania and Moldova.

(Photo: Deyangeorgiev/ Dreamstime)

simona@romania-insider.com