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February 3, 2023

Portugal’s EDP Renovaveis wants to invest EUR 80 M in wind farm projects

Portugal’s EDP Renovaveis (EDPR), the renewable energy division of Energias de Portugal utilities group, the third largest investor in Romania’s green energy sector, is one of the most relevant renewable energy companies in Romania. The Portuguese company has conducted in October three capital subscriptions within two project companies, the necessary sum surpassing the EUR 80 M threshold, according to Trade Registry data.
EDP Renewables, 77.5 per cent held by EDP Group, is the group’s subsidiary for renewable energy, essentially wind and solar energy. The company develops its wind power activities in Europe (Portugal, Spain, France, Belgium, Italy, Poland and Romania), in the United States (through Horizon Wind energy) and in Brazil. The solar power activity is developed in Romania.
The biggest sum, EUR 59.5 M, was subscribed last month to the capital of Ialomita Power, 99.9 per cent held by EDP Renewables Europe registered in Spain. According to Transelectrica data, Ialomita Power obtained last year the contract for bringing online a 264-MW wind farm located in Facaeni.
If the investment is finalized the project will be the second-biggest wind farm in Romania after the one opened by Czech Republic’s CEZ. The Czechs have wind farms with a total capacity of 600 MW in two communes in Dobrogea (Fantanele and Cogealac). The CEZ project is administered through two companies, one having a portfolio of 347.5 MW and the other one of 252.5 MW.
If the project in Facaeni is finalized the investment could reach EUR 385 M. The project is yet to appear on the list of investments that benefitted from green certificates at the end of September. According to the most recent information available in the local press, the project however faces significant delays. Facaeni mayoralty representatives could not be contacted for more details.
In this context, it has to be pointed out that Energias do Portugal (also through the EDPR division) plans to build six solar farms with a total capacity of 50 MW in Lesser Wallachia. The European Bank for Reconstruction and Development (EBRD) is involved in this project with a loan of EUR 20 M.
EBRD has offered loans for the construction and operation of 5 wind farms in Romania and has invested a total of EUR 169 M in the development of the Romanian renewable energy sector. EDPR has been producing solar power in Lesser Wallachia since 2013, through several solar farms. The company has an installed capacity of 11.6 MW in Dolj County, 28.85 MW in Mehedinti County and 9.93 MW in Olt County.

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