DTEK expands renewable energy portfolio in Romania

DRI, the EU renewable energy arm of the DTEK Group, will build a new 60MW solar park in Glodeni, Mureș County. This is DRI's fourth renewable energy project in Romania, bringing the company's renewable energy portfolio in the country to 299MW.

The new project, Glodeni II, will be located alongside DRI’s operational 53MW solar park in the same region, Glodeni I. The two projects combined will make one of the largest solar parks in the country in terms of size. DRI also operates a 60MW wind farm in Ruginoasa, Iași County, the first wind farm built in a decade in Romania, and a recently acquired 126MW solar park in Văcărești, Dâmbovița County, which is expected to start construction by the end of this year.

Glodeni II solar park is expected to be operational in the summer of 2025, and preparatory construction work started earlier this year. The project is estimated to produce 86.4 GWh of electricity per year - enough to power more than 22,400 homes* and reduce carbon emissions by 21,800 tonnes** per year.

DRI has again partnered with the Finas Group, which handled the initial phases of the project, including securing the land and obtaining the necessary permits, as it did for Glodeni I. DRI will add value through its extensive engineering, supply chain management, construction management and operations expertise, as well as its flexible capital structure.

John Stuart, CEO of DRI, said: “Glodeni II is another step in DRI's commitment to accelerate the energy transition in Romania, a country that is well placed to maximise its renewable energy potential and capacity. DRI plans to build 1 GW of renewable energy by 2030 in Romania, and we now have two projects that are producing energy and two projects in development, we are moving at pace.”

“We thank the Finas Group for once again partnering with us on this project. Together we are taking the next steps towards Romania achieving its 34% renewable energy target by 2030.”

“The sale of the project to DRI allows us to focus on new development projects, while our partner will bring the necessary expertise to manage and operate this major investment. This collaboration reflects our ongoing commitment to contribute to the expansion of renewable energy in Romania”, declared Claudiu Șugar, CEO of Finas Group.

DRI’s strategy is to develop projects through the acquisition of greenfield projects and portfolios (from early-stage to ready-to-build) and partnering with local developers.

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About DTEK

DTEK Group is the largest private investor in the energy sector of Ukraine. The Group employs 55,000 people.

DTEK Group's companies are engaged in coal and natural gas mining, electricity production at wind, solar and thermal power plants, trade energy resources in the Ukrainian and international markets, distribute and supply electricity to consumers, provide energy-efficient services to customers, and develop a network of high-speed charging stations. In accordance with the Strategy 2030, DTEK strives to transform into a more energy-efficient, environmentally friendly and technological business, guided by ESG principles. DTEK is a member of the World Economic Forum's Partnering Against Corruption Initiative (PACI). Our goal is to achieve carbon neutrality.

Since the beginning of the full-scale invasion, DTEK Group has restored power supply to more than 11 million consumers in the regions affected by the hostilities. DTEK Group is 100% owned by SCM Limited. The ultimate beneficiary is Rinat Akhmetov.