Israeli renewable energy company Econergy recently announced that it has reached a share purchase agreement with its local peer Nofar Energy to acquire Nofar’s 50% stake in the Rătești Solar PV Plant in Romania. Upon completion of the transaction, Econergy will achieve 100% ownership of this, the largest solar PV plant in Romania.
Public information shows that the Rătești Solar PV Plant has an installed capacity of 155 MW. It has been commercially operational since 2023 and was previously jointly operated by Econergy and Nofar Energy, each holding a 50% stake. According to the agreement, Econergy will acquire Nofar Energy’s shares for a total consideration of €45.6 million, which will be paid in three installments. The entire transaction is expected to be completed by June 2026. Concurrently, Econergy will also take over the €14.85 million bank loan previously held by Nofar Energy in the project.
Regarding this transaction, Econergy stated that it is expected to generate a capital gain of approximately €13 million for the company. More notably, after the transaction closes, Econergy plans to upgrade the Rătești PV Plant – investing €32 million to add a 120 MW Battery Energy Storage System (BESS). According to their estimates, this BESS is scheduled to commence commercial operation in the second quarter of 2026. Once operational, it is projected to generate an additional €15 million in annual revenue and €12 million in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the project.
This acquisition further strengthens Econergy’s leading position in the Romanian renewable energy market. Currently, the company manages a diversified portfolio of 3.5 GW in Romania, covering solar, wind, and energy storage projects. Within this portfolio, 473 MW are either grid-connected or possess grid-connection conditions, 763 MW are under construction, and a further 395 MW are planned to commence construction before the end of this year.
As an independent power producer and project developer focused on the European market, Econergy’s business spans several key European countries including Germany, the UK, Italy, Spain, Poland, and Greece. It currently boasts a project portfolio exceeding 14 GW across solar PV, wind, and energy storage. The company stated that this acquisition and the accompanying BESS installation plan align with its strategic direction of expanding renewable energy projects, integrating energy storage solutions, and creating long-term market value in Europe, thereby contributing to the European energy transition process.
