Astronergy snaps up 6MW solar farm in Romania

Newsroom 28/10/2013 | 17:28

Astronergy Solar Netherlands, part of China’s Chint group, entered the Romanian renewable sectors after acquiring a solar park.

The company took over a solar farm with an installed capacity of 5.98MW developed by ACV Solar Technology in Cluj County.

“I am satisfied there is still growing interest for solar energy in Romania, despite the uncertainties of the recent legal changes,” said Ciprian Glodeanu, partner at Wolf Theiss, the law firm that assisted Astronergy on the acquisition.

Last year, the company completed a 50MW solar installation in neighboring Bulgaria. Astronergy’s investments have primarily focused on the Asian markets. The China-based company is also manufacturing equipment for the photo-voltaic industry, supplying markets in Europe, Asia and America.

Wolf Theiss provided the due diligence in the acquisition stage. The firm will continue to assist Astronergy in implementing the deal and on the future restructuring of Solar Technology SRL.

Romania has reached over 400MW in incentivized solar installations by August, according to grid operator Transelectrica. Solar producers are currently granted six green certificates for each megawatt they generate, out of which two have been postponed by 2017.

Ovidiu Posirca