On 23 December 2020, STEAG GmbH signed with Hidroelectrica an agreement concerning the sale of STEAG’s shares in Romanian subsidiaries Crucea Wind Farm and STEAG Energie Romania, following a highly competitive process which involved both local and international bidders.

The transaction will complete in accordance with conditions stipulated in the agreement.

Hidroelectrica is focused on diversifying its production by adding high-quality renewables capacities to its portfolio, as part of the company`s recently approved development strategy.

The company restates its objective of remaining 100% green throughout the portfolio diversification process.

Developed by STEAG and commissioned in 2014, Crucea Wind Farm is one of the most modern and best-maintained onshore wind farms in Romania with an installed capacity of 108MW.

Together with customized solutions in the field of electricity and heat supply, STEAG provides a wide range of energy services – increasingly on the basis of renewables.

In 2019, Hidroelectrica produced 15.2TWh from the 209 hydropower plants in operation, having a total installed capacity of 6.4GW. With a turnover of €873m, EBITDA of €613m and a net profit of €290m, Hidroelectrica is the largest and most valuable state-owned company in Romania.