Nala Renewables has finalized an agreement with renewable energy group Monsson to acquire a 61MW solar project located in western Romania.
Construction is scheduled to commence in the third quarter of 2024, with the solar array expected to become operational and connected to the Romanian power grid by 2025.
The project is designed with the capability for future capacity expansion through the addition of a battery energy storage system (BESS), which Nala Renewables intends to integrate.
Moreover, the solar project benefits from a long-term offtake agreement, ensuring revenue stability for at least 12 years from its commissioning.
Specific terms of the agreements have not been disclosed.
"We are pleased to complete our initial acquisition with Monsson, a company with extensive expertise in developing and operating renewable energy projects in Romania," stated Will Herlinger, Director of Nala Renewables.
He continued, "Romania presents an appealing environment for developing, acquiring, constructing, and operating renewable energy projects, supported by a regulatory framework driven by ambitious renewable energy goals. We anticipate continuing our active presence in the CEE region in the years ahead."
Sebastian Enache, Head of M&A at Monsson, commented, "We are delighted to collaborate with Nala Renewables on this project and to support their initiatives in the CEE region."
Enache added, "Monsson is committed to facilitating a fair transition to clean energy and ensuring a stable energy system. Each of our projects incorporates significant battery energy storage systems in their design, as we envision renewable energy contributing to base load capacity
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