ECONOMY

Mytilineos concedes solar energy portfolio in Romania

mytilineos-concedes-solar-energy-portfolio-in-romania

Mytilineos announced on Monday that its Renewables and Storage Development (RSD) Business Unit has signed an agreement with Enel Green Power Romania SRL, part of the Enel Group, for the sale of an approximately 90-megawatt solar portfolio in Romania, consisting of two solar farms, planned to launch commercial operations by end-2022 or the start of 2023.

The projects are being developed in cooperation with Renergy Power Plants, a well-established engineering and renewable energy development company with a significant track record in Europe, Asia and South America.

The RSD Business Unit will undertake the further development and construction of the projects.

These solar farms are located in the southern part of Romania, close to Bucharest.

Specifically, the main project is Calugareni, a 63 MW ready-to-build (RTB) solar farm, with construction being scheduled to start by the end of 2021.

The remaining 26 MW is currently under development. Mytilineos was advised by Ernst & Young LLP (Energy Law) and Volciuc-Ionescu on the transaction.

At the same time, Mytilineos, through its RSD Business Unit, is implementing a project development and investment platform for solar PV and storage projects and is currently electrifying approximately 118 MW of solar PVs in Australia and 3.5 MW in Cyprus, which will start contributing to the company’s financial results from H2 2021.

These projects are part of a total pipeline of 4 GW of solar PV and energy storage projects under various stages of development, in Iberia, Italy, the UK, Cyprus, Romania, Chile, Australia and South Korea, for which it will assess options to monetize or integrate in its operations.