Hidroelectrica buys Crucea Wind Farm and STEAG Energie Romania from STEAG GmbH

Aurel Constantin 23/12/2020 | 15:29

On 23 December 2020, STEAG GmbH (“STEAG”) and Societatea de Producere a Energiei Electrice în Hidrocentrale Hidroelectrica S.A. (“Hidroelectrica”) signed an agreement concerning the sale of STEAG’s shares in Romanian subsidiaries Crucea Wind Farm S.A. (“Crucea Wind Farm”) and STEAG Energie Romania S.R.L. (“STEAG Energie Romania”) to Hidroelectrica, following a highly competitive process which involved both local and international bidders. The transaction will complete in accordance with conditions stipulated in the agreement.

Hidroelectrica is focused on diversifying its production by adding high-quality renewables capacities to its portfolio, as part of the company`s recently approved development strategy. The company restates its objective of remaining 100% green throughout the portfolio diversification process.

Developed by STEAG and commissioned in 2014, Crucea Wind Farm is one of the most modern and best-maintained onshore wind farms in Romania with an installed capacity of 108MW.

STEAG

For over 80 years, STEAG has stood for efficient and reliable power generation, both in Germany and abroad. As an experienced partner, STEAG comprehensively supports its customers in all phases of power supply. STEAG designs, develops, implements, operates and sells extremely efficient energy solutions – from generation and distribution based on renewable energy sources, to the power plant and the recycling of their by-products. Together with customized solutions in the field of electricity and heat supply, STEAG provides a wide range of energy services – increasingly on the basis of renewables.

Crucea Wind Farm

Crucea Wind Farm is the entity that owns the 108MW Crucea onshore wind farm located in Constanta county (Romania).

 STEAG Energie Romania

STEAG Energie Romania is an operation & maintenance (O&M) and administration service entity providing its services exclusively to Crucea Wind Farm.

Hidroelectrica

Hidroelectrica is the largest producer of renewable energy in Romania, being the main ancillary services provider and having an important role in relation to the security of the National Power System (NPS). In 2019, Hidroelectrica produced 15.2TWh from the 209 hydropower plants in operation, having a total installed capacity of 6.4GW. With a turnover of €873m, EBITDA of €613m and a net profit of €290m, Hidroelectrica is the largest and most valuable state-owned company in Romania.

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