Greek industrial group Mytilineos SA (FRA:MYH) has agreed to sell a 211-MW solar portfolio it is developing in Romania to compatriot energy group Helleniq Energy, formerly Hellenic Petroleum, the companies said on Monday.
The portfolio includes four solar projects in advanced development stages, located in southern Romania. Under the agreement, Mytilineos will build the facilities and deliver them to the new owner on the commercial operation date.
Of the portfolio, 13 MW are set to become operational this year, 108 MW in 2024 and 90 MW by the third quarter of 2025. Together, the solar parks are expected to generate over 300 GWh a year, equivalent to the needs of 100,000 households, the companies estimate.
Via the transaction, Helleniq Energy is setting foot in Romania’s renewables market. This follows its recent entry into Cyprus’ renewables market with the acquisition of two solar parks totalling 15 MW.
According to the announcement, the deal is part of Mytilineos’ asset rotation programme, aiming to accelerate value creation by reinvesting proceeds in the development of its pipeline.