ENNA Solar, part of ENNA Group, has signed an agreement to acquire the Medgidia project, located in Constanța County, in Romania. The Medgidia project comprises 166 MWp solar plant with a 612 MWh battery energy storage system. The acquisition involves ENNA Solar acquiring a 100 per cent equity stake in CIC GREEN ENERGY MEDGIDIA S.R.L., holding the rights to develop the project.
Furthermore, the project will be developed on approximately 204 hectares of land. Construction is scheduled to begin in the first quarter of 2027, while commercial operations are expected to start in the first quarter of 2028. Additionally, the project is expected to generate 265,932 MWh of electricity annually.
The completion of the acquisition is subject to approval from the relevant Romanian foreign direct investment screening authority and competition authorities in the applicable jurisdictions. The Medgidia project will add to ENNA Group’s existing investments in Romania, including the 87.52 MWp Mihăilești solar project, which is under advanced construction.