STEAG Sells Crucea Wind Farm with 108 MW Power Capacity in Romania to the State-Controlled Company Hidroelectrica
/23rd December 2020, STEAG, RENEWABLE MARKET WATCHTM/ The German company STEAG sells its Romanian onshore Wind Farm Crucea to the Romanian producer of renewable energies Hidroelectrica. This has to be seen in connection with the strategic realignment of STEAG, concerning the new company’s strategy to focus on the French wind energy market. STEAG currently operates wind farms in both France and Germany.
The use of wind power systems in Romania by the end of 2009 was limited. Some small wind turbines have been used in rural and mountain areas where electricity supply often interrupts. The cumulative installed wind capacity was only 14 MW at the end of 2009. Following explosive growth only for four years between 2010 and 2014, cumulative installed capacity exceeded 2,844MW (2.84GW) by the end of 2014. Romania finished the year 2014 in third place in Europe by installed new wind capacity measured on a year-on-year (y-o-y) basis. Romanian wind market in 2014 rose with 19 per cent y-o-y basis, compared with a growth of 36.5 % y-o-y in 2013. However, due to the negative legal and regulatory changes, wind power market growth in Romania between 2015 and 2019 was moderate, with only 196MW newly installed capacity for this period.
Sale of Crucea Wind Farm SA
On December 23, 2020 STEAG GmbH (STEAG) and Societatea de Producere a Energiei Electrice în Hidrocentrale Hidroelectrica SA (Hidroelectrica) signed an agreement on the sale of STEAG's shares in the Romanian subsidiary Crucea Wind Farm SA (Crucea Wind Farm) and STEAG Energie Romania SRL (STEAG Energie Romania) signed to Hidroelectrica. This was done following a highly competitive process in which both local and international bidders were involved. The transaction will be carried out in accordance with the relevant contract.
Hidroelectrica Diversifies Portfolio
Hidroelectrica is focused on diversifying its production by adding high-quality renewable energy capabilities to its portfolio as part of the company's recently approved development strategy. The company reiterates its goal of staying 100% green throughout the portfolio diversification process. The Crucea wind farm developed by STEAG and commissioned in 2014 is one of the most modern and best-maintained onshore wind farms in Romania, with an installed capacity of 108 megawatts (MW).
STEAG Concentrates on Project Development and the French Wind Energy Market
With the sale of the turbine at this point, STEAG has hit a favourable moment, as the transaction correlates with STEAG's future wind strategy of developing and selling these renewable turbines and then acting as a service provider operate. In the wind energy sector, most of STEAG's future activities will occur in the French market, which offers further growth opportunities.
The more information and answers to your questions about the wind energy market in this country and related content you may read here: Romania Wind Power Market Outlook 2020 ÷ 2030
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