“Everywhere in the world investment in renewable energy depends on the economic policy of that particular country. If renewable energy investment returns to Romania, we will be a good builder, but until then we will continue installing wind turbines in Germany and other countries,” says Alina Pop, chief executive officer of Electrogrup, a company specializing on turnkey projects for energy and telecommunications sectors.
Electrogrup started expansion in 2013 and entered UK, Germany and Russia at first. Expansion continued in 2016, when it entered Belgium and in 2017, when it opened the office in Poland. It started exporting services, driven by the dwindling market in Romania, as Teofil Muresan, founder and shareholder of Electrogrup said last year.
“After significant investment in renewable energy in 2009-2012, investment in the sector stopped because of the sudden change in the green certificate policy. That was a shock to builders, who had to find projects for other sectors right away.”
Electrogrup has 700 employees and comprises Electrogrup, Direct One, Nova Power & Gas, Wesee and Netcity. Its operations include energy, civil and telecommunications infrastructure construction, electricity and natural gas supply and fiber optic rental.
Electrogrup alone posted EUR31.8 million revenue in 2016 and expects it to double to EUR64 million in 2017. The entire group posted almost EUR92 million revenue and EUR17.5 million EBITDA in 2016.
(English version by Loredana Fratila-Cristescu)