Electrica expands its portfolio with new business segments for the energy transition

Electrica and EsyaSoft Holding Ltd. of Dubai, UAE, part of the International Holding Company (IHC) Group, will set up a joint-stock company that will have as its object of activity the production and operation of advanced technologies in the field of green energy, intended for the national and European market.

During its meeting on 31 July 2024, the Board of Directors of the Company approved the participation of Electrica SA in the establishment together with EsyaSoft Holding Ltd. of Dubai, UAE, part of the International Holding Company (IHC) Group, of a joint-stock company which will have as its object of activity the production and operation of advanced technologies in the field of green energy, for the national and European market.

This company, in which Electrica will hold 25% of the share capital and EsyaSoft 75% will build production units for green energy equipment, as well as electricity storage solutions and digitalization solutions for the electricity distribution network (smart meters). The project also includes the development and operation of an infrastructure for charging electric vehicles.

The new business segments intend to meet the growing demand at national and European level and will generate new jobs, and at the same time will benefit directly and indirectly all the core activities of the Electrica Group.

The initial share capital of the newly established company will be 90,000 lei, and the two shareholders will subsequently provide additional financing for the development of the activity. The financing method will be regulated by a Shareholders’ Agreement (SHA), the initial amount foreseen by the parties being 100 million euros, the contribution of the two shareholders being proportional to the owned shares.

“Building on our strategic statement – ‘Innovation Promise: Shaping a Sustainable Future’ – and in line with our national strategy, this partnership represents a significant step towards achieving our goals. At the same time, it gives us the opportunity to position ourselves as an important player in the transition to a more sustainable and efficient energy system, both locally and regionally, a goal that is very important to us. As mentioned, when we launched our new strategy, some of the main objectives are the diversification of the services offered and exploration of regional growth opportunities for strengthening our position in the market. One of the opportunities materialized through the partnership with EsyaSoft, which will allow us to bring a new dimension to the activity of Electrica Group, for Romania and for all of us.”, said Alexandru Chirita, Electrica’s CEO.

“The partnership with Electrica allows us to bring the most advanced green energy technologies to Romania and to amplify our commitment to innovation and sustainability. We aim to significantly contribute to the development of a modern and efficient energy infrastructure that will support the transition to a green economy and generate long-term economic and social benefits. We are confident that this collaboration will add value to both parties and strengthen Romania’s position as a regional player in the renewable energy sector,” said Bipin Chandra, CEO of EsyaSoft Holding Ltd.