A contract targets the acquisition of 100% of the shares held by the sellers in Crucea Power Park SRL for an estimated total price of EUR8.47 million. The Crucea Est wind power project, developed by Crucea Power Park SRL, has a designed installed capacity of 121 MW and a projected electricity storage capacity of 60 MWh (15 MW x 4h). It is located outside the Crucea commune, Constanta County.
Another contract targets the acquisition of 100% of the shares held by the sellers in Sunwind Energy SRL for a total estimated price of EUR1.485 million. The Satu Mare 2 photovoltaic project, developed by Sunwind Energy SRL, has a designed installed capacity of 27 MW and is located near Satu Mare.
The third project targets the acquisition of 100% of the shares held by the sellers in New Trend Energy SRL for a total estimated price of EUR3.245 million. The Satu Mare 3 photovoltaic project, developed by New Trend Energy SRL, has a designed capacity of 59 MW and is located near Satu Mare.
The SPAs stipulate the acquisition by Electrica of shares in the three companies and the payment of the corresponding price in four stages, structured according to the development stage of the project and the fulfilment of certain conditions precedent.
Swedish businessman Emanuel Muntmark is one of the largest developers of wind farms in Romania.
Electrica has a stock market capitalization of RON4.36 billion and is 48% held by the Romanian State.