Econergy Expands Romanian Solar Portfolio with 55 MW Project
Bucarest/Tel Aviv, January 28th, 2025 – Econergy Renewable Energy Ltd. (TASE: ECNR), a leading European Independent Power Producer (IPP) specializing in renewable energy, is pleased to announce that its solar photovoltaic project, Scurtu Mare, with an installed capacity of approximately 55 MW (DC), has been successfully connected to the electricity grid in Romania.
The project is owned 100% by Econergy International Ltd. (“Econergy UK”), and gradual electricity injection into the grid has commenced. Commercial electricity sales are expected to begin in the coming weeks.
The Scurtu Mare project is Econergy Group’s third connected project in Romania, further strengthening the group’s position as a leader in the country’s renewable energy sector. With approximately 300 MW of connected projects, 370 MW under construction, and over 500 MW expected to begin construction this year, Econergy continues to deliver significant growth in the country.
„We are proud to announce the commercial operation of Scurtu Mare, a project we developed from its initial greenfield stage“, said Eyal Podhorzer, CEO and Co-Founder of Econergy. This success highlights Econergy’s ability to manage all aspects of the development process, including initiation, financing, construction, and long-term operation. It also reinforces our commitment to becoming a leading Independent Power Producer (IPP) in Romania and across Europe.“
„The connection of Scurtu Mare is just the beginning for 2025. We are confident that this year will bring continued momentum and growth, building on the significant milestones we achieved in 2024“, Eyal Podhorzer continues.
Disclaimer – Forward-Looking Information
This announcement includes forward-looking information regarding project timelines, revenues, costs, and financial performance. Such information is based on Econergy’s current plans and market assumptions, which may be affected by factors beyond the Company’s control, including regulatory changes, financing costs, weather conditions, electricity pricing, and operational risks. For a full list of risks, please refer to the Company’s 2023 Annual Report (Section 1.29).
About Econergy
Econergy Group (TASE: ECNR) is a leading European Independent Power Producer (IPP) and active developer specializing in solar PV, wind, and energy storage projects across key European markets, including the UK, Italy, Spain, Romania, Poland, and Greece. With a robust project pipeline exceeding 8.2 GW in solar PV and wind and an additional 10.6 GWh in energy storage, Econergy is at the forefront of driving Europe’s renewable energy transition.
The company’s local teams in each operational country provide a strategic advantage, ensuring close collaboration with regulatory entities and local communities. Econergy’s solid strategic partnerships are key to securing project funding and further bolstering its financial stability. Additionally, the company generates revenue across the entire value chain by selling electricity, earning development and operation fees, and selling projects at various stages of development, ensuring a diversified and sustainable income stream.
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Corporate Contact:
Eliana Horenczyk
Marketing manager, ECONERGY RENEWABLE ENERGY
eliana(at)econergytech.com