Vrancart to build 20 MW PV park in Vrancea County

Alina Oprea

29 September, 2023 at 4:13 PM

Vrancart, the producer of corrugated cardboard, signed a financing contract with the Ministry of Energy, through the National Recovery and Resilience Plan (PNRR), in order to build a photovoltaic park with a power plant, in the town of Adjud, Vrancea County. The total value of the project is RON 96.87 million (€19.37 million) without VAT, of which the maximum non-refundable eligible value is RON 28.95 million (€5.79 million) without VAT. That project has the ultimate goal of developing and operating a modern green energy production facility with an estimated installed capacity of 20 MW.

The investment "represents a significant step by the company to implement its sustainable development strategy", according to a company announcement.

The company from Adjud reported total revenues of RON 236.2 million (€47.24 million) in the first half of 2023, down 16% compared to the same period in 2022, and a net profit of RON 8.54 million (€1.7 million) down 32%.

In the period January-June 2023, the company made investments of RON 25 million (€5 million), increasing by 37%.

Vrancart has a capitalization of almost RON 200 million (€40 million) and is 75.5% controlled by Lion Capital, while Paval Holding has a 17.2% stake.

nextE complets PV power plant for RAAL

nextE, a renewable energy company operating as an Independent Energy Producer (IPP), has announced the completion of a €4.8 million investment in a photovoltaic power plant whose beneficiary is RAAL.

Energy

Ilfov County Council to build PV plant in Cernica

The Ilfov County Council will build a photovoltaic plant in Cernica.

Energy

Engie to develop PV park in Brăila County

Engie has started the construction of a photovoltaic park in Brăila County, located next to a wind farm that it owns.

Energy

Copper Beech Urban Development invests €149 million in PV park in Giurgiu

Copper Beech Urban Development is planning a major investment of RON 745 million (€149 million) in the development of a photovoltaic park in Giurgiu County.

Real estate

Atria Urban Resort installs 296 solar panels

Atria Urban Resort, a residential complex developed in the north-western area of Bucharest by EVERGENT Investments, in partnership with Cityring Development, has installed 296 solar panels that will produce energy for heating domestic hot water.

Energy

Econergy to build PV park in Dâmbovița County

Econergy, one of the most active investors in the renewable energy sector in Romania, has obtained the connection approval for a new renewable energy project, according to public data.

Energy

Copper Beech Urban Development to build a PV park in Giurgiu County

The Copper Beech Urban Development company has received funding of around RON 74 million (€14.8 million), European money through the PNRR.

LATEST NEWS

27 Apr

Data and energy performance are redefining real estate value

24 Apr

ProCredit Bank Romania launches CO2 calculator for SMEs

17 Apr

Polish office market grapples with increasing fit-out costs

16 Apr

Bucharest office fit-out, among the most affordable in CEE

14 Apr

Sustainability moves from ambition to action

CONFERENCES

CEE PROPERTY FORUM & AWARDS GALA 2024 - VIENNA, AUSTRIA

POLAND ESG FORUM 2024

Romania ESG Forum 2024

RECOMMENDED FROM THE HOME PAGE

Real estate

Sustainability moves from ambition to action

Conducted in autumn 2025, the RICS Sustainable Real Estate Survey Europe gathered 112 responses from valuers, developers, investors and other professionals across 30 countries. The findings confirm that ESG has moved from a peripheral concern to a core driver of real estate value, risk and decision-making across Europe.

Finance

ProCredit Bank Romania launches CO2 calculator for SMEs

ProCredit Bank Romania has launched a CO2 Emissions Calculator to help microenterprises and small and medium-sized enterprises quantify and understand their carbon footprint. This initiative reflects the Procredit Group's commitment to achieve net-zero emissions by 2050, with client engagement at the core of its Climate Action Strategy.

Energy

DSV boosts energy self-sufficiency with solar power

DSV – Global Transport and Logistics, the world's largest logistics operator, has launched a solar installation at its warehouse in Łozienica, Poland, in partnership with commercial real estate investor Accolade. The installation will meet the energy needs of Poland's first multi-client warehouse equipped with an AutoStore system.

Energy

Etem Gestamp signs cross-border wind power deal with Rezolv

Etem Gestamp, the Sofia-based joint venture between Viohalco Group and Spain's Gestamp Group focused on aluminium extrusion and processing for the automotive industry, and Rezolv Energy, the Actis-backed independent power producer, have signed a 10-year virtual power purchase agreement (VPPA) in Bulgaria. The VPPA will see Etem Gestamp buy electricity from Rezolv Energy's 461MW 'Vifor' wind farm, which is about to come onstream in Buzău County, Romania. It is the first cross-border wind PPA that has been publicly announced in Bulgaria.

Business

DP World plants underwater forests to revive Black Sea marine life

DP World has launched a five-year coastal restoration programme to create underwater "forests" of native seaweed to boost marine life near the Constanța South Container Terminal on the Black Sea.

POPULAR

Energy

2 months ago

Microsoft hits 100% renewable energy target five years early

Energy

1 month

DSV boosts energy self-sufficiency with solar power

Energy

1 month

Etem Gestamp signs cross-border wind power deal with Rezolv