Nala Renewables, a global power and renewable energy investment and development platform, announces that it has signed an agreement with renewable energy group Monsson to acquire a 61 MWp solar photovoltaic (PV) project located in Western Romania.
Construction is anticipated to commence during Q3 2024, with the project expected to be operational and connected to the Romanian power grid in 2025. Once operational, the plant is expected to support Nala's contribution to the UN Sustainable Development Goals by generating around 80,000 MWh of clean energy per year, representing the energy use of around 13,000 households, as well as saving approximately 39,000 tonnes of CO2 equivalent emissions per year*.
The project includes the ability for further capacity expansion through the addition of a battery energy storage system (BESS) which Nala Renewables plans to integrate with the project. The PV plant benefits from a long-term offtake agreement, providing revenue security for at least twelve years from commissioning. The terms of the agreements are not disclosed.
“We’re delighted to have closed our first acquisition with Monsson who have significant experience in developing and operating renewable energy projects in Romania,” said Will Herlinger, Director at Nala Renewables. “It’s an attractive country to develop, acquire, build and operate renewable projects, in part due to a supportive regulatory environment driven by ambitious renewable energy targets. We expect to continue to be active in the CEE region in the coming years.”
“We are pleased to partner with Nala Renewables on this project and support their activities in the CEE region. Monsson is committed to its role in ensuring a just transition to clean energy and a stable energy system. All of our projects have large battery energy storage systems considered in their design because our vision is that renewable energy can be delivered also as base load,” said Sebastian Enache, Head of M&A at Monsson.
