DRI, DTEK Group’s subsidiary developing renewable energy projects in the EU, continues its investments in Romania with the acquisition of a 126 MW photovoltaic park located in Văcărești, Dâmbovița county. This is DRI’s third renewable energy project in Romania, representing a further step towards its goal of developing a 1 GW portfolio in the country by 2028.

DRI already has two operational projects producing electricity since the beginning of this year: a 53 MW photovoltaic park in Glodeni, Mures county, and a 60 MW wind farm in Ruginoasa, Iasi county, the first to be built in Romania in the last decade. The new project at Văcărești brings DRI’s portfolio in Romania to 239 MW.

The construction of the Văcărești solar park will start this autumn and will become operational next autumn. The photovoltaic park will produce an estimated 205.8 GWh of electricity per year, which could cover the consumption of about 50,000 households and contribute to avoiding 48,000 tons of carbon dioxide per year.

Having already secured the land, grid connection and necessary permits, DRI will add value through its engineering expertise, supply chain management, operational agility and flexible capital structure.

“We believe that Romania has all the tools to become a hub in the renewable energy sector and the new Contracts for Difference scheme encourages companies like DRI to continue to invest and help develop Romania’s potential in wind and solar,” said John Stuart, CEO of DRI.

DRI’s strategy is to develop projects through greenfield (early-stage to ready to build) procurement, local partnerships or through the procurement of operational projects where it can add value.