Crucea wind farm gets a new owner

Essen/Crucea. Essen-based energy company STEAG GmbH sells its Romanian Crucea onshore wind farm to the Romanian renewable energy producer Hidroelectrica. This has to be seen in context with STEAG’s strategic self-realignment which in reference to the company’s activities on the wind sector sees concentration on project development and providing operational services with the French wind energy market especially in focus. Actually STEAG is running wind farms in France as well as in Germany.

On 23 December 2020, STEAG GmbH (“STEAG”) and Societatea de Producere a Energiei Electrice în Hidrocentrale Hidroelectrica S.A. (“Hidroelectrica”) signed an agreement concerning the sale of STEAG’s shares in Romanian subsidiaries Crucea Wind Farm S.A. (“Crucea Wind Farm”) and STEAG Energie Romania S.R.L. (“STEAG Energie Romania”) to Hidroelectrica, following a highly competitive process which involved both local and international bidders. The transaction will complete in accordance with conditions stipulated in the agreement.

Hidroelectrica diversifies its portfolio
Hidroelectrica is focused on diversifying its production by adding high-quality renewables capacities to its portfolio, as part of the company`s recently approved development strategy. The company restates its objective of remaining 100% green throughout the portfolio diversification process.

Developed by STEAG and commissioned in 2014, Crucea Wind Farm is one of the most modern and best-maintained onshore wind farms in Romania with an installed capacity of 108 megawatt (MW).

STEAG concentrates on project development and the French wind energy market
By selling the asset at this very moment STEAG has met an opportune time since the transaction correlates with STEAG’s future wind strategy to develop, sell, and then run those renewable assets as service operator. Concerning wind energy most activities of STEAG will in future take place on the French market which is considered to offer opportunities for further growth.