Danish Vestas sells 80% in its Romanian wind farms for EUR 136 mln
Danish group Vestas, Europe's largest producer of wind turbines, announced on Wednesday, August 28, that it has reached an agreement to sell 80% of the shares in its subsidiaries that own the wind farms Pantelimon, Pegasus and Apollo in Romania to an undisclosed buyer, informs a press release of the company.
The sale price is EUR 136 million and the deal is expected to be completed in eight to ten weeks.
Vestas mentioned that the transaction pends on certain conditions, including the approval of the Competition Council in Romania.
The three wind parks have a total installed capacity of 160 MW. The Pantelimon wind farm, located in Constanta county, is the largest of the three - 150 MW. Romania has wind power production capacities totaling 3 GW but all new investments in this sector stopped in 2016, after the Government changed the subsidy scheme for renewable energy projects.