Nala Renewables has entered an agreement to acquire a 61MWp [megawatts peak] solar photovoltaic (PV) project in western Romania from renewable energy group Monsson.
The solar project will begin construction in the third quarter of this year and is expected to be connected to the Romanian power grid by 2025.
The terms of the deal have not been disclosed.
Monsson mergers and acquisitions head Sebastian Enache stated: “We are pleased to partner with Nala Renewables on this project and support their activities in the CEE [central and eastern Europe] region.
“Monsson is committed to its role in ensuring a just transition to clean energy and a stable energy system. All of our projects have large battery energy storage systems considered in their design because our vision is that renewable energy can be delivered also as base load.”
The solar plant will play a pivotal role in supporting Nala's commitment to the UN's sustainable development goals.
It will generate 80,000 megawatt hours (MWh) of clean energy annually, equivalent to the energy consumption of 13,000 households.
The plant will offset 39,000t of CO₂ equivalent emissions each year, contributing to global efforts to mitigate climate change.
The solar project also has an opportunity for capacity expansion through the potential addition of a battery energy storage system (BESS).
Nala Renewables plans to integrate this system with the project to enhance its efficiency and reliability.
The project's long-term offtake agreement ensures revenue security for a minimum of twelve years post-commissioning.
Nala Renewables director Will Herlinger stated: “We’re delighted to have closed our first acquisition with Monsson, who have significant experience in developing and operating renewable energy projects in Romania.
“It’s an attractive country to develop, acquire, build and operate renewable projects, in part due to a supportive regulatory environment driven by ambitious renewable energy targets. We expect to continue to be active in the CEE region in the coming years.”
