Electrica Furnizare, part of the Electrica Group, announces its entry into the green electricity production market by signing a sale-purchase contract with Raylexo Limited and Long Bridge Management and Administration S.R.L. in order to purchase the Stănești photovoltaic park, from Giurgiu county, owned by the Long Bridge Millennium company, according to a release.

With an installed capacity of 7.5 MW, limited to 6.8 MW, the Stănești photovoltaic park is located on an area of 17.5 ha and was built between October 2012 – January 2013, starting to inject electricity into the grid in February 2013.

The acquisition made by Electrica Furnizare represents “a first step to achieve the objective of vertical development of the Electrica Group, by entering the electricity production market, especially from renewable sources.”

“The expansion of the electricity value chain, especially in the production from renewable sources is one of the important objectives of the Electrica Group Strategy for the period 2019-2023. We anticipate that such acquisitions will help us achieve significant synergies, continuing to optimize the Group’s supply area in this direction as well, in addition to the current process of organizational transformation.

We are aware of the importance of decarbonising the energy sector and are concerned about the sustainable development of the business, especially in the context of the new challenge launched by the European Commission for the Member States – the Green Deal. At least for the next decade, sustainability certainly means being green in the field of production, because the Paris Agreement has as its main objective that, by 2030, at the level of the European Union, the production of energy from renewable sources will exceed 30%. Of course, sustainable development means for us the fact that we are concerned that such projects bring added value to the business and investors, consolidating the results of the Electrica Group. In this sense, we further analyze other potential opportunities for inorganic growth, in accordance with our strategy,” said Corina Popescu, general manager, Electrica.

With a tradition of over 120 years, Electrica Furnizare, the subsidiary of electricity and natural gas supply of the Electrica Group, offers services to a number of approximately 3.6 million end customers, both as a last resort and on the competitive market. . The company is licensed to operate electricity and natural gas throughout the country.

In the first quarter of this year, the Electrica Group supplied to the retail market approximately 2.5 TWh (up 2% compared to Q1 2019) to a number of approximately 3.6 million consumers.