Finland-based renewables investor Korkia and Romania-based renewable energy developer Econous Green Energy set up a partnership on Monday (18 March) to develop 600 megawatts (MW) of solar energy projects in Romania.
Initial projects are expected to be licensed and ready for construction in 2025, Korkia noted in a press release.
“Romania’s renewable energy development sector is now attracting an increasing number of international investors. The country is in a very good position to increase its capacity, and the government has set ambitious growth targets. Romania is on track to become a renewable energy hub in Southeast Europe,” said Peter Goitanich, Investment Director at Korkia.
Once completed, the combined 600 MW photovoltaic capacity is expected to meet the energy demand of around 200,000 European households. The projects are also estimated to reduce carbon dioxide emissions by approximately 300,000 kg annually, which corresponds to the annual emissions of approximately 120,000 cars.
“Our partnership with Korkia marks a significant moment in our evolution as a key player in the Romanian renewable energy sector. We are thrilled to collaborate with a renowned company like Korkia to develop large-scale solar projects in Romania,” said Christos Lialios, CEO of Econous Green Energy. “This partnership not only reaffirms our commitment to the transition to a sustainable energy future, but also demonstrates our ability to innovate and act in a way that brings significant benefits to the environment and our communities. We are proud to be part of an initiative that will bring benefits to Romania and all of Europe.”