Green Forum • 11 July, 2024 at 9:00 AM
Nala Renewables, a global power and renewable energy investment and development platform, has announced an agreement with Monsson, a renewable energy group, to acquire a 61 MWp solar photovoltaic (PV) project in Western Romania.
Construction is slated to begin in Q3 2024, with the project expected to be operational and connected to the Romanian power grid by 2025. Once operational, the plant is projected to support Nala's commitment to the UN Sustainable Development Goals by generating approximately 80,000 MWh of clean energy annually. This output is equivalent to the energy consumption of around 13,000 households and will save about 39,000 tonnes of CO2 emissions per year.
The project also includes potential capacity expansion by adding a battery energy storage system (BESS), which Nala Renewables plans to integrate. The PV plant will benefit from a long-term offtake agreement, ensuring revenue security for at least twelve years post-commissioning. The terms of the agreements remain undisclosed.
“We're delighted to have closed our first acquisition with Monsson, who brings significant experience in developing and operating renewable energy projects in Romania,” said Will Herlinger, Director at Nala Renewables. “Romania is an attractive country for developing, acquiring, building, and operating renewable projects, thanks to a supportive regulatory environment and ambitious renewable energy targets. We plan to remain active in the CEE region in the coming years.”