This is DRI's third renewable energy project in Romania, representing a further step towards its goal of developing a 1 GW portfolio in the country by 2028.
DRI already has two operational projects generating electricity since the beginning of this year: a 53 MW photovoltaic park in Glodeni, Mures county, and a 60 MW wind farm in Ruginoasa, Iasi county, the first to be built in Romania in the last decade. With the new project at Văcărești, DRI's portfolio in Romania reaches 239 MW.
Construction of the Văcărești solar park will start this autumn and it is expected to become operational next autumn. The PV park will produce an estimated 205.8 GWh of electricity per year, which could cover the consumption of around 50,000 households* and help avoid 48,000 tonnes of carbon dioxide** per year.
Having already secured the land, grid connection, and necessary permits, DRI will add value through its engineering expertise, supply chain management, operational agility, and flexible capital structure.
"The acquisition of the Văcărești PV park illustrates DRI's ambition to become a major player in the Romanian market. We believe that Romania has all the tools to become a hub in the renewable energy sector and the new Contracts for Difference scheme encourages companies like DRI to continue to invest and contribute to developing Romania's potential in wind and solar energy," said John Stuart, CEO of DRI.
DRI's strategy is to develop projects by acquiring greenfield projects (from early stages to ready-to-build), through local partnerships, or by acquiring operational projects where it can add value.
