Korkia and Econous Green Energy partner to develop 600 MW of solar power in Romania

News | 18.3.2024

Korkia and Romania-based renewable energy developer Econous Green Energy have set up a partnership to develop 600 MW of solar energy in Romania. Initial projects are expected to be licensed and ready for construction in 2025.

600 MW of photovoltaic capacity means approximately 780,000 MWh of electricity production, that, once operational, will generate enough renewable energy for an equivalent of roughly 200,000 European households. The projects will reduce carbon dioxide emissions by approximately 300,000 kg annually, which corresponds to the annual emissions of approximately 120,000 cars.

Romania’s solar energy sector poised for significant growth

Romania has ambitions to become a net exporter of renewable energy and strengthen its position as an important part of Europe’s energy system. The market is expected to grow by more than 7 GW over the next ten years. The country has favourable conditions for solar generation, including high levels of irradiation and land availability.

“Romania’s renewable energy development sector is now attracting an increasing number of international investors. The country is in a very good position to increase its capacity, and the government has set ambitious growth targets. Romania is on track to become a renewable energy hub in Southeast Europe,” says Peter Goitanich, Investment Director at Korkia.

At present, about 40% of Romania’s energy comes from carbon-based sources, but these are increasingly being replaced by renewable sources of energy. There is also significant hydropower capacity in the country, which acts as a good baseload to compliment the more variable solar and wind power generation.

“Our partnership with Korkia marks a significant moment in our evolution as a key player in the Romanian renewable energy sector. We are thrilled to collaborate with a renowned company like Korkia to develop large-scale solar projects in Romania. This partnership not only reaffirms our commitment to the transition to a sustainable energy future, but also demonstrates our ability to innovate and act in a way that brings significant benefits to the environment and our communities. We are proud to be part of an initiative that will bring benefits to Romania and all of Europe,” says Christos Lialios, CEO of Econous Green Energy.

Additional information:

Peter Goitanich
Investment Director, Korkia
peter.goitanich@korkia.co.uk

Christos Lialios
CEO, Econous Green Energy
cl@econous.eu

Korkia

Korkia is a global investor in renewable energy. Our mission is to produce clean megawatts to the market to ensure that future generations have an economically prosperous and sustainable world to live in. We develop utility-scale renewable energy and energy storage together with project developers around the world. Currently we operate in Europe, North America and South America – but we are only getting started. 

Econous Green Energy

Econous Green Energy is a company specialized in the development of the renewable energy sector, with offices in Bucharest, Athens, and Thessaloniki. Engaged in procurement, construction, asset management, and acquisition advisory services, Econous provides innovative solutions and technical expertise for developing and optimizing green energy projects. With an extensive business network, Econous focuses on minimizing risk and maximizing opportunities for its clients, ensuring high-quality consulting and technical services in renewable energy and energy efficiency.