Monsson completes sale of 61 MW Photovoltaic Park to Nala Renewables

The transaction, completed in June, will see the commencement of construction on the photovoltaic park in the third quarter of 2024. The project is slated to be operational and connected to Romania's electricity grid by 2025. Once operational, the park will generate approximately 80,000 MWh of clean energy annually, sufficient to power around 13,000 households. Additionally, it will contribute to a reduction of approximately 39,000 tons of carbon dioxide equivalent emissions per year, in line with the United Nations Sustainable Development Goals.

An expansion plan is integrated into the project, including the addition of a battery energy storage system (BESS) which Nala Renewables intends to deploy, enhancing the capacity and reliability of the photovoltaic park. The plant will benefit from a long-term power purchase agreement, ensuring stable revenue for at least twelve years post-commissioning. Specific terms of the agreement remain confidential.

"We are delighted to have completed our first acquisition with Monsson, who has significant experience in developing and operating renewable energy projects in Romania," said Will Herlinger, Director at Nala Renewables. “Romania offers a favorable environment for developing, acquiring, building, and operating renewable energy projects, partly due to its ambitious renewable energy targets. We anticipate remaining active in the Central and Eastern Europe (CEE) region for many years to come.”

Sebastian Enache, Head of M&A at Monsson, commented, "We are pleased to partner with Nala Renewables on this project, supporting their activities in the CEE region. Monsson is committed to ensuring a fair transition to clean energy and maintaining a stable energy system. All our current projects incorporate energy storage solutions because our vision is that renewable energy should always be available."

The calculation for the environmental benefits of the project was done using UNFCC IFI Default Grid Factors.