Greenvolt sells wind project in Romania to Engie for €472.3 million
The 253.1-megawatt project, still under construction, was sold to the Romanian subsidiary of French group Engie.
Greenvolt announced on Wednesday to investors the sale of a 253.1 megawatt (MW) wind project in Romania to France’s Engie. The transaction, worth €472.3 million, is part of the Portuguese renewable energy company’s asset rotation strategy.
“The project, located in Ialomița, is currently under construction and is expected to be completed in 2027”, said the company led by João Manso Neto in a statement sent to the Portuguese Securities Market Commission (CMVM), adding that it will be “one of the largest in the country”, with the integration of 42 high-efficiency turbines. Part of the project’s capacity will benefit from a 15-year contract for difference (CfD), which will provide visibility of revenues during this period.
“This sale is part of Greenvolt’s asset rotation strategy, highlighting its ability to originate, develop and build large-scale projects, while reinforcing the rigorous execution of its asset strategy”, the renewable energy company said in the statement. The completion of the transaction is subject to compliance with contractual conditions.
It has been a busy end of year for the Portuguese company acquired in 2024 by American private equity fund KKR. On 21 November, it announced an agreement to sell two battery energy storage projects in Poland, with a capacity of 1.2 gigawatt-hours (GWh), to Northland Power. The previous month, it had revealed that it was one of the winners of the battery storage auction launched by the Italian grid operator.
In September, Greenvolt completed the second phase of its €150 million capital increase, announced in July, with the registration of €50 million from the American fund KKR.
