Electrica announces the completion of the competitive procedure for the selection of the EPC (Engineering, Procurement & Construction) contractor and the signing, through its subsidiary Foton Power Energy S.R.L., of the contract for the implementation of the Bihor 1 photovoltaic project, one of the most important renewable energy production projects under development in the Group’s portfolio.
The contract has a total value of approximately 36.6 million euros, excluding VAT, and includes the implementation of the photovoltaic park, the construction of the 110 kV electrical transformer station, the implementation of an electrical energy storage facility with a capacity of 18 MWh and operation and maintenance services for a period of 3 years from commissioning.
Developed through Foton Power Energy S.R.L., a company wholly owned by Electrica, Bihor 1 will have an installed capacity of approximately 78.8 MWp and is located within the Cefa and Mădăraș communes, Bihor County.
“We have undertaken to transform Electrica into an integrated player across the entire electricity value chain, and the development of our own production capacities is an essential component of this strategic direction. Bihor 1 combines green energy production with modern storage solutions, responding to both sustainability objectives and the need for flexibility and efficiency of the energy system. At the same time, it represents a concrete example of how we use the capital raised through the issuance of green bonds to finance investments with high economic and strategic value.
”We continue to accelerate investments in renewable energy production, develop projects that support energy security and build assets that generate long-term value for our shareholders, the economy and the communities in which we operate. Each project we take to the execution phase brings us closer to the objectives we have assumed and strengthens Electrica’s role in transforming the energy sector in Romania,”says Alexandru Chiriță, CEO of Electrica.
Construction works will begin in the coming period, with the project to be completed and put into operation according to the established implementation schedule.
The “Bihor 1” project is part of the Electrica Group’s strategy to develop the renewable energy production segment and expand its presence throughout the energy value chain. Through the investments under development, Electrica aims to increase its own production capacities, diversify its energy portfolio and consolidate an integrated business model, capable of responding to market developments and the requirements of the energy transition.
The investment costs related to the project will be provided with priority from the funds attracted through the inaugural green bond issue carried out by Electrica in 2025. Through this financing, the company aims to accelerate the development of its renewable energy portfolio and storage capacities, contributing to achieving its strategic growth objectives and supporting the energy transition.