March 8 (SeeNews) - Romania's Energy Shareholdings Administration Association (SAPE), which aims to become a significant green energy producer, said it will finalise by the end of May the construction of a 5 MW solar photovoltaic park in the southern Prahova county worth nearly 35 million lei ($7.7 million/7 million).
Investment in the project, located in the Valea Calugareasca commune, includes around 7.5 milllion lei in non-reimbursable funds from Romania's National Recovery and Resilience Plan, SAPE said in a press release on Thursday.
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The construction is being carried out by local companies General Me.El Electric and Electro-Alfa International, with site supervision by Popp & Asociatii Management.
SAPE, established in 2014, is mainly active in the management of state-owned minority shareholdings in Romanian energy companies. The association owns two wind parks, CEE Horia in Constanta county with a capacity of 7.5 MW, and CEE Curcubata in Alba county with a capacity of 15 MW, alongside the solar photovoltaic park in Valea Calugareasca.
"At this moment, we are in the midst of the development process, with a total installed capacity of 27.5 MW and production of approximately 40,000 MWh annually. Our strategy is to become a significant producer by 2026, with 100 - 150 MW installed in renewable energy sources," said Bogdan Nicolae Stanescu, president of SAPE's board of directors.
(1 euro=4.97002 lei)