Partnership for the construction of a photovoltaic park

Nala Renewables has signed an agreement with the Romanian renewable energy group Monsson for the acquisition of a 61 MWp photovoltaic project located in the west of the country. Construction works are expected to start in the third quarter of 2024, with the project to be operational and connected to the Romanian electricity grid in 2025.

Will Herlinger, director of Nala Renewables, said: "We are delighted to have completed our first acquisition with Monsson, who has significant experience in developing and operating renewable energy projects in Romania. It is an attractive country to develop, acquire, build and operate renewable energy projects, in part due to a favorable regulatory environment driven by ambitious renewable energy targets. We expect to continue to be active in the CEE region in the coming years." For his part, Sebastian Enache, Head of M&A at Monsson, welcomed the new partnership with Nala Renewables: "We support their activities in the Central and Eastern European region. Monsson assumes the role of ensuring a proper transition to clean energy and a stable energy system. Our vision is that renewable energy can also be provided as a base load."

Once operational, the solar park is expected to support Nala's contribution to the UN Sustainable Development Goals by generating approximately 80,000 MWh of clean energy per year, representing the energy consumption of approximately 13,000 households, as well as reducing approximately 39,000 tonnes of equivalent CO2 emissions per year.

The project includes the possibility of further capacity expansion by adding a battery energy storage system that Nala Renewables plans to integrate into the project.

The photovoltaic plant benefits from a long-term offtake agreement, which ensures the security of income for at least 12 years after commissioning. Terms of the deals are not being disclosed.