Green Forum • 16 September, 2024 at 7:52 PM
The Romanian Competition Council announced its analysis of the deal through which Greece's Public Power Corporation (PPC) plans to acquire the operators of the Fântânele-Cogealac wind farm.
Public Power Corporation SA is looking to take control of Felix Renewable Holdings SRL, Tomis Team SA, Ovidiu Development SA, MW Team Invest SRL, and TMK Hydroenergy Power SRL.
PPC, a Greek company involved in the production and supply of electricity, operated through subsidiaries in Greece, Romania, and North Macedonia under the PPC Group. In Romania, PPC Group generated, supplied, and distributed electricity, provided natural gas, and offered related services. The company had previously purchased the Romanian assets of Italy's Enel.
Tomis Team SA, Ovidiu Development SA, and TMK Hydroenergy Power SRL ran renewable energy power plants with a combined capacity of approximately 629 MW. MW Team Invest SRL owned one of the wind farms managed by Tomis Team SA, while Felix Renewable Holdings SRL functioned as a holding company.
Ovidiu Development, along with Tomis Team, operated the Fântânele-Cogealac wind farm in Dobrogea, which remained the largest onshore wind farm in Europe, with a capacity of 600 MW. This wind farm had been operational since the early 2010s.
It is worth noting that three years earlier, CEZ sold its Romanian operations to the Australian investment fund Macquarie Infrastructure and Real Assets (MIRA) in a deal valued at €964 million. Macquarie, through its asset management division MIRA, indirectly owned the Romanian companies Tomis Team and Ovidiu Development, which were acquired in 2020 from the Czech group CEZ via a series of investment vehicles.