Green Forum • 18 June, 2024 at 8:00 AM
Premier Energy and Motor Oil Renewable Energy Single Member S.A. signed the development of two photovoltaic projects with a combined capacity of 86 MW and 18 MW of storage capabilities.
Through Alive Renewable Holding Limited and Motor Oil Renewable Energy Single Member S.A. (“MORE”), Premier Energy Group has signed the acquisition of two new photovoltaic projects for renewable electricity production.
These two projects boast a combined capacity of 86 MW and also have an add-on storage capability of 18 MW, underscoring the companies' commitment to expanding the renewable energy infrastructure. The acquisition is subject to customary competition clearance and FDI approvals.
The photovoltaic projects are located in Buzau County.
The development activities will be coordinated by Alive Capital S.A., part of the Premier Energy Group. Premier Energy and MORE expect to complete the construction of the projects by the second half of 2025.
This acquisition confirms Premier Energy Group's strategy to continue targeting new strategic acquisitions and developing new projects in the field of renewable energy as part of its vertically integrated business model, in line with its commitment to directly contribute to energy security and help in combating climate change.