BUSINESS

Samsung, the largest investor in solar parks in Romania



The South Korean giant, Samsung, became one of the strongest investors in solar parks in Romania after finalizing a EUR 100 million investment in Slobozia, Giurgiu County, zf.ro informs. According to data released by Transelectrica on October 1, 2013, the largest functional photovoltaic project in Romania has a capacity of 45 MW and is managed by LJG Green Source Energy Alpha. On average, a solar park needs between 2.3 and 2.5 hectares per megawatt, resulting in a total project surface of approximately 112.5 hectares. A football field, for instance, measures approximately one hectare. However, data from the Register of Commerce shows that 78 percent of the shares of this project company are controlled by Solluce Romania 1 BV, a company registered in the Netherlands. In turn, 80 percent of Solluce Romania 1 BV is owned by Samsung Corp., one of the companies affiliated with Samsung Group, as data published by the Korean conglomerate at the end of Q1 of 2013 reveals. The remaining 20 percent of Solluce Romania 1 BV is owned by Samsung C&T Deutschland GmbH, according to Samsung’s website. The second largest functional project in Romania, with a capacity of 20 MW, is also located in Giurgiu County, Ivoarele locality, and managed by LJG Green Source Energy Alpha.

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