Alina Oprea • 4 July, 2023 at 5:30 PM
TotalEnergies is entering the Romanian energy market by buying five photovoltaic park projects from PNE. The parties involved in the transaction have agreed not to disclose the purchase price. The projects under development have a total combined size of 208 MWp. PNE will remain responsible for the further development of the projects until the "ready-to-build" stage is reached.
"We are delighted that TotalEnergies has confidence in our proven expertise in the photovoltaic field. This agreement confirms that PNE's "Scale Up 2.0" strategy is attractive in the industry. By delivering ready-to-build projects, PNE is expanding its resilient business model while increasing the company's value," said Markus Lesser, CEO of PNE AG.
PNE has been active in Romania for over 10 years and has successfully developed and sold wind and solar photovoltaic projects of 510 MW/MWp. It currently has a volume of 1 GW of projects under development.
"The acquisition of these five solar projects in Romania is a perfect illustration of TotalEnergies' commitment to developing its renewable energy activities in this country and, more broadly, in Eastern Europe, in support of the Green Deal. The development of these projects allows us to deploy the Company's expertise in solar energy production and strengthens our presence in Eastern Europe by acquiring a portfolio of solar projects in Poland with a total capacity of 200 MW. We are proud to become a partner of choice to support Romania in diversifying and decarbonizing its energy mix from renewable energy", said Marin de Montbel, VP of Renewable Explorer - New Markets at TotalEnergies.
TotalEnergies is present on the Romanian market through 4 companies - Hutchinson, TotalEnergies Marketing Romania, AS24 Romania, and TotalEnergies Global Services Bucharest - and has offices in Bucharest and Brașov county, with over 1,400 employees.
"The sale of photovoltaic projects with a total capacity of 208 MWp to Total Energies Renewables represents an important moment for PNE's activity in Romania. It is a matter of pride and at the same time, it is a confirmation of our continuous efforts to promote and develop renewable energy. The fact that Total Energies, a well-known company in the global energy market, was interested in acquiring these projects developed by PNE, underlines their quality and potential. We are confident that the partnership with Total Energies Renewables will bring significant benefits to both parties and strengthen our position in the renewable energy market in Romania. We continue to be among the top renewable energy companies in Romania and bring innovation and sustainability to all our projects. We are developing projects with a capacity of over 1 GW, and various RES technologies. We are dedicated, in the future, to the development and implementation of clean energy solutions, thus contributing to the sustainable future of our country and the entire planet", says Daniela Dinescu, managing director of PNE Romania and active member of both the RWEA and RPIA board of directors, associations that represent the voice of the renewables in Romania.
At the end of 2022, TotalEnergies' gross renewable energy production capacity reached almost 17 GW. TotalEnergies will continue to expand this activity to reach a gross production and storage capacity of 35 GW from renewable sources, and then 100 GW by 2030, with the objective of becoming a top 5 global producer of electricity from wind energy and solar.