Romanian electrical equipment manufacturer Electro-Alfa International said on Friday that it has finalised the acquisition of project company Solar Technologies Consulting, which owns a 52 MW battery energy storage system (BESS) project.

The BESS project is being developed in the central commune of Selimbar, Sibiu county, and has an estimated value of about 25 million euro ($29.2 million), Electro-Alfa International [BSE:EAI] said in a statement filed with the Bucharest Stock Exchange. The construction works are expected to take around twelve months following the completion of the design phase, according to SeeNews.

“Following the development of the project, the Company will analyze the options of operating the facility or monetizing it through a sale to potential investors in the energy sector,” Electro-Alfa International said.

Part of the Electro-Alfa Group, Electro-Alfa International has 34 years of experience in the field of medium and low voltage electrical equipment; engineering, procurement, and construction works; and energy efficiency solutions. The company operates four production units with a total area of ​​25,500 sq m as well as its own research and development center and collaborates with over 500 customers nationally and internationally.

Electro-Alfa International started trading on the Bucharest bourse last month, after the company raised 579.64 million lei ($133 million/113.8 million euro) through its initial public offering (IPO) held in February.