DRI, the EU renewable energy arm of the DTEK Group, continues to invest in Romania by purchasing a 126MW solar park project in Văcărești, Dâmbovița County from local developers. This is DRI’s third renewable energy project in Romania and another step towards its goal of achieving 1GW of renewable energy in the country by 2028.
DRI already has two operational projects that have been producing electricity since the beginning of the year: a 53MW solar farm in Glodeni, Mureș County, and a 60MW wind farm in Ruginoasa, Iași County, the first to be built in a decade in Romania. With the addition of Văcărești solar park, DRI now has a 239MW renewable portfolio in Romania.
Construction of the Văcărești solar park will begin in autumn 2024 and is expected to be operational the following autumn. The solar farm is expected to produce 205.8 GWh of electricity – enough to power about 50,000 households* and avoid 48,600 tonnes of carbon emissions** per year.
The local developers have secured the land, grid connection and necessary permits, while DRI will add value through its extensive engineering expertise, supply chain and construction management, and flexible capital structure.
“The Văcărești project demonstrates DRI’s ambition to become a significant player in Romania. We believe that Romania has the means to become a hub for renewable energy, and the new Contract for Difference scheme encourages companies like DRI to continue to invest and help unlock Romania’s solar and wind energy potential”, said John Stuart, CEO of DRI.
DRI’s strategy is to develop projects through the acquisition of greenfield projects and portfolios (from early-stage to ready-to-build), partnering with local developers, as well as acquiring operating assets, where DRI can add value.