Crucea Wind Farm, First Successful M&A Achieved by Romanian State Company

The inclusion of Crucea Wind Farm into Hidroelectrica’s portfolio is the first successful M&A achieved by a Romanian State company, the objective being taken over by Steag Gmbh.

On May 27th, 2021, the Minister of Energy Virgil Popescu, together with the Secretary of State George Niculescu, and accompanied by President of Hidroelectrica Bogdan Badea, and by other representatives of the authorities and of the company, visited Crucea Wind Farm in Constanta County, an objective that recently entered the portfolio of the power company. On this occasion, the Minister was presented with the control room, the turbines, as well as the transformation station related to the wind farm.

“The development of the energy system towards the green area of power generation is one of the priorities of my term as Minister. Beyond making acquisitions, very useful in diversifying the intra-company production mix, I would like to encourage Romanian companies to move decisively towards the initiation of development projects of new objectives. We are in Dobrogea, the wind gateway to Romania and the center of interest for many of our green projects. The Black Sea is also a short distance away, and I take advantage of my presence here to reiterate the Romanian State’s interest in the offshore wind potential,” Virgil Popescu stated.

“Hidroelectrica aims to diversifying its production objectives, a fact it has assumed through an ambitious strategy proposed to shareholders and approved by them. We want to go exclusively in the direction of green energies in terms of developing the production portfolio. We have committed to add 300 MW of offshore wind power in the coming years, but it is not our only project. We also want 300 MW in onshore wind, but also green hydrogen production capacity on the Danube, just to mention a few of our projects,” President of Hidroelectrica’s Management Board Bogdan Badea mentioned.

Hidroelectrica is a leader in the power generation and the main provider of ancillary services required in the National Energy System and it is a vital company for a strategic sector, with implications for the national security. Hidroelectrica has a number of 187 capacities in operation with an installed capacity totaling 6,372 MW. The company also has in its portfolio the wind farm from Crucea, with an installed capacity of 108 MW.

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