GreenVolt has acquired a 45 MWp photovoltaic solar park in Romania for €83 million, the Portuguese company announced in a statement sent this Wednesday to the Securities and Exchange Commission (CMVM). At stake is the LIONS Solar PV, which has been operating for almost a decade and has been operated until now by Samsung and two other companies.
Through subsidiaries V-Ridium Solar 45 and V-Ridium Renewables, GreenVolt reached an agreement to buy LJG Green Source Energy Alpha, also known as LIONS, until now owned by Samsung Corporation, LSG Building Solutions and Green Source Consulting.
Located in southern Romania, the LIONS Solar PV has about 112.5 hectares and an installed capacity of 45 MWp. The total enterprise value for the transaction is around €83 million.
The electric company states that this photovoltaic solar park “has registered a stable electricity generation profile, and its revenues comprise of a market component for sales of electricity and a regulated component of green certificates, valid until 2031.” Most of these green certificates are contracted in euros with the German electricity company EON.
With this acquisition, GreenVolt expects to “optimize the financial return of this asset, either through the establishment of a potential bilateral unregulated power purchase agreement (PPA), and through the optimization of the operational management of the park and a “repowering” potential of this asset in the medium-term.”