Electrica Completed Acquisition of New Trend Energy

On 12 July 2024, Electrica has completed the acquisition, from Emanuel Muntmark and Catalin Mrejeru, of the project company New Trend Energy, having as main object of activity the generation of energy from photovoltaic sources.

New Trend Energy develops the photovoltaic project company ‘Satu Mare 3’, with an authorized installed capacity of 57 MW, located near Doba locality, Satu Mare county. The project is at the ‘ready-to-build’ phase.

The transaction in question is in line with Electrica Group strategy, which envisages the expansion in the value chain of electricity, especially in the power production from renewable energy sources.

Electrica informed the capital market on 28 July 2021 regarding the signing of the sales and purchase agreement for the acquisition of 100% of the shares in New Trend Energy project company.

We remind that renewable generation is an essential part of Electrica’s strategy to expand into complementary areas. At the same time, the company is constantly analysing the challenges and opportunities that this direction brings, especially in terms of storage and efficient integration of renewable sources into the national energy mix. Electrica’s efforts are focused on developing a robust and flexible infrastructure that allows for rapid adaptation to fluctuations in renewable generation and dynamic market demands.

“We remain committed to increasing the share of renewable energy in our energy mix and are working hard to reduce carbon dioxide emissions through more efficient production and distribution processes,” Alexandru Chirita, CEO of Electrica, noted. “Our current strategy, approved last December, covers the period 2024-2030, an interval which we believe will mark a significant transformation in the energy sector. It is designed to position us at the forefront of Romania’s energy transition and, implicitly, to contribute to achieving the European Union’s 2030 and 2050 targets. It reflects our commitment to ensuring the long-term sustainability of the business, while aligning with national and European strategic directions. This is why we see the new directions as not only a response to current challenges, but also an anticipation of the future of the energy sector,” he concluded.