The Board of Directors of the Electrica company approved the establishment of a joint-venture company together with EsyaSoft Holding Ltd., part of the International Holding Company (IHC) group. This will have as its object of activity the production and operation of advanced technologies in the field of green energy, intended for the national and European market.
Through the new company, in which Electrica will hold 25% of the share capital, and EsyaSoft 75%, production units for green energy equipment, such as storage solutions and digitalization of the electricity distribution network (smart meters), will be built. The project also includes the development and operation of an infrastructure for charging electric vehicles.
The new business segments will respond to the growing demand at national and European level, generate new jobs and, at the same time, bring direct and indirect benefits to all the Electrica Group’s core activities.
“Starting from our strategic statement – The promise of innovation: Shaping a sustainable future – and in line with the national strategy, this partnership represents a significant step towards achieving the assumed objectives. At the same time, it gives us the opportunity to position ourselves as an important player in the transition to a more sustainable and efficient energy system, both at the local and regional level, a desire we care very much about.
“As we mentioned at the time of launching our strategy, some of the main objectives are the diversification of the services offered and the exploration of regional growth opportunities to strengthen our position on the market. One of the opportunities materialized through the partnership with EsyaSoft, which will allow us to bring a new dimension to the Electrica Group’s activity, for Romania and for all of us,” said Alexandru Chiriță, CEO of Electrica.
The initial social capital of the newly established company will be in the amount of 90,000 lei, with the two shareholders subsequently providing financing for the development of the activity. The method of financing will be regulated by an agreement between the shareholders (Shareholders’ Agreement – SHA), the initial amount foreseen by the parties being 100 million euros, the contribution of the two shareholders being proportional to the share held.
“The partnership concluded with Electrica allows us to bring the most advanced technologies in the field of green energy to Romania and to amplify our commitment to innovation and sustainability. We aim to contribute significantly to the development of a modern and efficient energy infrastructure that will support the transition to a green economy and generate long-term economic and social benefits. We are confident that this collaboration will bring added value to both parties and strengthen Romania’s position as a regional player in the renewable energy sector,” said Bipin Chandra, CEO of EsyaSoft Holding Ltd.
EsyaSoft Holding Ltd. is a subsidiary of International Holding Company (IHC), Abu Dhabi, United Arab Emirates, specializing in providing solutions for upgrading and automating the electric grid through smartgrid technologies, advanced metering infrastructure, electric vehicle charging infrastructure, energy storage and consumer engagement, communications network, IT, IoT and advanced analytics and artificial intelligence solutions for energy, gas and water utilities. EsyaSoft has offices in over 10 countries, including the UAE, India, Azerbaijan, the Netherlands, the UK and the US, serving over 35 global utility companies.