Electrica shareholders approved during Wednesday’s extraordinary general meeting of shareholders a new 253 million euro investment in the Crucea Est wind farm in Constanta.

Electrica owns 60% of the shares of the project company Crucea Power Park (CPP) and has contracted from Monsson participations in three project companies developing a portfolio of 207 MW.

The investment project carried out by CPP “Construction of wind farm, medium voltage power grid, park transformer station, 110 KV underground network, land fencing and connection to SEN (transformation station (110KV/400KV), LEA400KVA connection, network reinforcement works, installation of electricity storage capacity” will be carried out in the communes of Crucea and Pantelimon in Constanța county (Crucea Est Wind Project), and the total investment value will be a maximum of 253 million euros excluding VAT.

Last year, Crucea Power Park SRL was designated among the winners of the first round of the Auction for the State Aid Scheme in the form of Contracts for Difference (CfD) within the call of November 18.

Autor: Bogdan Tudorache

Active in the economic and business press for the past 26 years, Bogdan graduated Law and then attended intensive courses in Economics and Business English. He went up to the position of editor-in-chief since 2006 and has provided management and editorial policy for numerous economic publications dedicated especially to the community of foreign investors in Romania. From 2003 to 2013 he was active mainly in the financial-banking sector. He started freelancing for Energynomics in 2013, notable for his advanced knowledge of markets, business communities and a mature editorial style, both in Romanian and English.