The Energy Participation Management Company (SAPE), fully controlled by the state through the relevant ministry, has confirmed its intention to take over from Italian investors a photovoltaic park with an installed capacity of 5 MW in Prahova County, plus a free land area in the same location on which to build a new solar power plant, with an installed capacity of at least 4.5 MW, according to Profit.ro.

“An asset sale contract has been concluded which regulates the transfer of ownership of the assets of the Photovoltaic Power Plant, belonging to Foto Solar SRL, to SAPE SA, which will take place no later than 29.04.2021. We specify that SAPE SA concluded the transaction with Foto Solar SRL only for the transfer of the Dârvari Photovoltaic Power Plant (CEF) and did not acquire the shares of Foto Solar SRL,” the SAPE directorate said.

The target of the takeover, the Dârvari solar power plant, located in the homonymous village from Valea Călugărească commune and put into operation in 2015, is operated by the company Foto Solar SRL. It is 100% controlled by another local company, Mag Eco Development SRL, which has as shareholders two Italian companies, AG Investments SRL (99.995%) and Gemma Investments SRL (0.005%). Administrator of the operator Foto Solar SRL and representative of its majority shareholder AG Investments SRL is, according to termene.ro, the Italian Angelo Gruttadauria, in the past majority shareholder and administrator of the metallurgical plant Ductil Steel (sold in 2007 to the Russians from Mechel).