Competition authorized the takeover of Crucea Wind Farm and Steag Energie Romania by Hidroelectrica

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The Competition Council authorized the transaction through which Hidroelectrica took over the companies Crucea Wind Farm and Steag Energie Romania, according to a release received by energynomics.ro.

Developed by Steag and put into operation 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 MW.

“The decision taken today by the shareholders makes Hidroelectrica the first state-owned company to mark a successful M&A. It is a success for both the Romanian state and society, a moment that changes perspectives and demonstrates that when there is interest and involvement, Romanian energy companies can be at least as competitive in the development area as private ones.

The acquisition of the Crucea Wind Farm confirms the objective we assumed when we put on the table the Hidroelectrica strategy – that of diversifying the company’s production portfolio and making green energy a unique development priority,” said Bogdan Badea, President of Hidroelectrica.

“We remain in the area of renewable energy through everything we set out to do and we want Hidroelectrica to keep its status as a 100% green company.”

Steag and Hidroelectrica signed an agreement on the sale of Steag shares in the Romanian subsidiaries Crucea Wind Farm and Steag Energie Romania to Hidroelectrica, following a competitive process that involved both local and international bidders.

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