Portland Trust divests 155 MW Ratesti solar PV project in Arges County

Econergy and partner Nofar Energy have completed the acquisition from Portland Trust of the ready-to-build 155 MW Ratesti solar farm in northwest Romania.

The total investment in Ratesti will be EUR100 million (US$113 million) and will see Econergy and Nofar Energy each acquire a 50% stake in the project from Portland Trust. Econergy will also provide management services, including EPC and O&M negotiations, construction management and power purchase agreement, and project finance management. Once operational, Econergy shall also provide a long-term asset management service.

Ratesti solar farm has received all its required permits, and construction is due to start in the fourth quarter of 2021, with commercial operations expected to begin in Q4 2022.