Electrica announces the completion of the acquisition of the company Crucea Power Park, which produces wind energy

Electrica informs, in an announcement at the Bucharest Stock Exchange, that on February 7, it completed the acquisition of the company Crucea Power Park SRL (CPP), whose main activity is the production of energy from wind sources.

CPP is developing the “Crucea Est” wind project with an installed capacity in turbines of up to 138 MW and a designed electricity storage capacity of 60 MWh (15 MW x 4h), located in Constanța County, in the area of Crucea and Pantelimon. The project is in the “ready-to-build” phase.

“On September 17, 2024, we announced that CPP was selected among the winners of the first round of the State Aid Scheme Auction in the form of Contracts for Difference (CfD), with an assigned installed capacity of 54.0 MW, at a price of 77.3250 Eur/Mwh. Thus, the transaction perfectly aligns with our strategic objective to develop the electricity production segment and highlights our dedication to contributing to the development of the energy sector in Romania and to supporting the national energy transition objectives”, stated Alexandru Chiriță, CEO of Electrica.

Electrica informed the capital market on July 28, 2021, about the signing of the sale-purchase agreement for 100% of the shares of Crucea Power Park. During the Extraordinary General Meeting of Shareholders (EGS) of February 5, 2025, the shareholders approved the investment project to be carried out by CPP with a total investment value of up to 253 million euros, excluding VAT, as well as the granting of a loan by Electrica S.A. to CPP, in order to finance the investment works necessary for the completion and operation of the “Crucea Est” wind power plant. As mentioned in the documents made available to shareholders in the EGMS, the start of the investment will be made only after Electrica takes over 100% of the shares of CCP, and the funds necessary to conclude the loan agreement will be provided by Electrica from the syndicated credit facility and the bond issue, approved by HAGEA no. 2 of November 8, 2024 or from other sources.

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