Israel-headquartered independent power producer (IPP) Econergy will acquire 100% stake in the 155MW Ratesti solar project in Romania, further expanding its European renewable energy portfolio.
The acquisition will be executed through Econergy’s subsidiary, Econergy International, which is purchasing the project from Nofar Energy. The deal is expected to generate a capital gain of approximately €13 million (US$15.2 million) for Econergy, with the total transaction valued at €45.6 million.
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As part of the agreement, Econergy will also assume a €14.9 million shareholder loan that Nofar Energy had previously extended to the project.
The move underscores Econergy’s ongoing strategy to bolster its presence in the European solar market amid growing demand for renewable energy investments in the region.
Econergy originally purchased Ratesti in November 2021, when it was still at the ready-to-build stage. Situated in Argeș County, southern Romania, the project was commissioned in 2023 and is promoted as the largest photovoltaic complex in southeastern Europe. During the same time, the firm closed a €60 million (US$65.5 million) funding facility with Raiffeisen bank International AG.
Looking ahead, Econergy plans to enhance the site with a 120MW battery energy storage system (BESS), a development projected to cost €32 million, aligning with the company’s strategy to integrate large-scale storage solutions alongside its solar assets.
Econergy currently manages a 3.5GW portfolio of solar, wind, and BESS assets in Romania. Recently, the company began commercial operations at its 87MW Oradea solar project in western Romania.
The project is the company’s fourth in the country, following an 87MW plant that started operations in August. Econergy said it intended to add a 68MW battery energy storage system (BESS) to that project, and was in “advanced discussions” to secure financing for the next phase.
