The Rătești Photovoltaic Park in Argeș County, owned by two Israeli companies, is set to be officially inaugurated on October 31st, as per an invitation extended to the press.

Anticipated for inauguration this year, the Rătești Photovoltaic Park represents the most significant renewable energy investment slated to commence operations in Romania in 2023. This photovoltaic park, visible from the Bucharest-Pitești highway, boasts a capacity of 153 MW and will become the largest operational photovoltaic park in Romania after it begins functioning. According to the Romanian Photovoltaic Energy Association (RPIA), Rătești will also be the most extensive photovoltaic park in Southeastern Europe upon commencement of its operations.

The total investment in the project was initially estimated at around €98 million at its onset, although it’s possible that this figure has increased over time. Ultimately, the park was developed by two Israeli firms, Econery and Nofar, both of which have been very active in the renewable energy sector in Romania. Econergy, in particular, maintains a portfolio of projects in various stages of execution, amounting to 2,200 MW in Romania, encompassing photovoltaic and wind energy. Just last month, they received technical approval (ATR) for a future photovoltaic park in Niculești, Dâmbovița County, with a projected capacity of 177 MW.

Returning to the Rătești Park, the initial investor who embarked on the development of this 153 MW project on roughly 160 hectares was Portland Trust, one of Romania’s most influential real estate developers. In 2020, they obtained ATR from Transelectrica for the park and put the project up for sale the following year.

It’s worth noting that Hidroelectrica, a state-owned hydroelectric producer, reportedly expressed interest in the park. However, the final approval was not granted by the company’s Supervisory Board. The reasons, to the best of our knowledge, remain undisclosed; yet, it is believed that Hidroelectrica was concerned about venturing into the ready-to-build photovoltaic sector, an area where it lacked prior experience and, potentially, presented too much risk.

In 2021, Portland Trust subsequently sold the project to the two Israeli companies, Econergy and Nofar Energy, in August 2021.

At the time of this news update, the total installed photovoltaic capacity in Romania stands at 1,527 MW, as reported by the Regulatory Agency.

This substantial investment in renewable energy represents a significant step towards a more sustainable and greener future.