Electrica Expands Its Green Energy Portfolio
Electrica’s Board of Directors has approved the establishment of a joint-venture company with EsyaSoft Holding, which will be engaged in the production and operation of advanced green energy technologies for the national and European markets.
Through the new company, in which Electrica will hold 25% of the share capital and EsyaSoft 75%, production facilities for green energy equipment, such as storage solutions and digitization of the electricity distribution network (smart meters) will be built. The project also includes the development and operation of a charging infrastructure for electric cars.
The new business segments will respond to the growing demand at national and European level, will generate new jobs and, at the same time, will bring direct and indirect benefits to all core activities of the Electrica Group.
“Building on our strategic statement – ‘The Innovation Promise: Shaping a sustainable future’ – and in line with the national strategy, this partnership is a significant step towards achieving the objectives. It also gives us the opportunity to position ourselves as an important player in the transition to a more sustainable and efficient energy system, both locally and regionally, which is something we are very committed to. As we mentioned when we launched our strategy, some of our main objectives are to diversify the services we offer and explore regional growth opportunities to strengthen our market position. One of the opportunities has materialized through the partnership with EsyaSoft, which will allow us to bring a new dimension to the Electrica Group’s activity, for Romania and for all of us,” said Alexandru Chirita, CEO of Electrica.
The initial share capital of the newly established company will be RON 90.000, and the two shareholders will subsequently provide the financing for the development of the activity. The financing arrangements will be governed by a Shareholders’ Agreement (SHA), the initial amount foreseen by the parties being EUR 100 million, with the contribution of the two shareholders being in proportion to their shareholding.
“Our partnership with Electrica allows us to bring the most advanced green energy technologies to Romania and to amplify our commitment to innovation and sustainability. We aim to contribute significantly to the development of a modern and efficient energy infrastructure that will support the transition to a green economy and generate long-term economic and social benefits. We are confident that this collaboration will bring added value to both parties and will strengthen Romania’s position as a regional player in the renewable energy sector,” said Bipin Chandra, CEO of EsyaSoft Holding.
About EsyaSoft Holding
EsyaSoft Holding Ltd. is a subsidiary of International Holding Company (IHC), Abu Dhabi, United Arab Emirates, specializing in providing solutions for modernization and automation of the power grid through smart grid technologies, advanced metering infrastructure, EV charging infrastructure, energy storage and consumer engagement, communications network, IT, IoT and advanced analytics and artificial intelligence solutions for power, gas and water utilities. EsyaSoft has offices in over 10 countries, including the United Arab Emirates, India, Azerbaijan, the Netherlands, the United Kingdom and the USA, serving over 35 global utilities companies.
