The project includes a nearly 79 MW solar power plant, an energy storage system with a capacity of 18 MWh, and a 110 kV electrical transformer station. The newly signed EPC contract, which also covers the operation and maintenance of the energy complex for a period of three years after commissioning, has a total value of EUR 36.6 million plus VAT.
The funding will primarily come from resources raised by Electrica SA through its 2025 green bond issuance. The photovoltaic project, named Bihor 1, is located in the communes of Cefa and Madaras in Bihor County and is being developed through Foton Power Energy SRL, a wholly owned subsidiary of Electrica SA.
The development company behind the project was acquired in 2024 from Monsson Group, controlled by Swedish businessman Emanuel Muntmark, a Monaco resident and one of the largest renewable energy developers in Romania, often nicknamed the “wind king.”
Electrica Group had a net profit of RON309.6 million in January-March 2026, up 58.2% from RON195.7 million reported in the year-earlier period. The operating profit for Q1/2026 saw an increase of RON113.7 million to RON427.1 million, compared to RON313.4 million achieved in Q1/2025. This increase is mainly due to the decrease in operating costs by RON129.8 million, a positive impact offset by the decrease in operating income by RON16.1 million (impact generated by the termination of the support scheme in the supply segment, diminished by the increase in revenues from current activity), as per the company’s financial report.
EL shares have traded 29% higher so far in 2026 and 134% higher over the last 12 months. The company has a market value of almost RON12 billion and is 49.8%-owned by the energy ministry.