French energy major TotalEnergies has acquired a combined 208MW of solar PV capacity in Romania from Germany-based renewables developer PNE.
The acquisition includes five solar projects, with PNE AG remaining responsible for further project development until the projects reach ready-to-build stage.
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The German developer has been active in Romania for more than ten years with the development and sale of 510MW of solar PV and wind projects. Moreover, the company has a portfolio of 1GW of projects under development. The Romanian projects will help the German developer reach its target of 8GW of solar PV pipeline by 2027.
Markus Lesser, CEO at PNE AG, said: “This agreement confirms that PNE’s ‘Scale Up 2.0’ strategy is appealing in the industry. By delivering ready-to-build projects, PNE extends its resilient business model whilst simultaneously enhancing company value.”
Both parties have not disclosed the amount of the transaction for the five solar plants.
The French company continues to increase its reach in Eastern Europe after the acquisition of 200MW of solar PV projects under development in Poland last March. Romania and Poland have not been the only European countries where TotalEnergies has been active as of late, with the company receiving positive environmental approval for 3GW of solar PV projects across Spain.
“The acquisition of these five solar projects in Romania is a perfect illustration of TotalEnergies’ commitment to develop its renewable energy activities in the country, and more broadly in Eastern Europe, in support of the Green Deal,” said Marin de Montbel, VP renewable explorer – new markets at TotalEnergies.