HAGAG Europe Development enters the local energy market through the acquisition of BTD Distribuție și Furnizare, taking over all existing activities, employees, contracts, and obligations. Through this transaction, the group opens a new division—Hagag Energy—and announces an investment plan of over €400 million to expand operations in the coming years.

“We continue to be a trusted real estate developer,” says Yitzhak Hagag, co-founder and chairman of the board of directors of Hagag Europe Development. “We also aim to to establish ourselves as a strategic player in the energy sector, all guided by the core values that define us — long-term vision, innovation, reliability, quality, and the unwavering commitment to deliver positive social and economic impact,” he continues. The distribution and supply of natural gas is presented as a starting point: our global vision is to expand our company’s
presence across more than one segment of the energy industry, in line with our approach in the real estate sector”, adds Yitzhak Hagag.

The company starts with a portfolio of 67 contracts for the concession of the public natural gas distribution service and for the design, execution, and operation of networks. Currently, three networks are completed and in operation, 21 are in the design phase, 23 are under construction, and another 20 are in various stages of approval. Hagag estimates that 64 new networks will be commissioned in the next 24 months.

Entering the natural gas distribution and supply segment is presented as a first step in the diversification strategy of the group, known in Romania for its real estate projects. According to the announced plans, Hagag Energy aims to expand its presence in as many segments of the energy industry as possible and expects to create at least 200 new jobs by 2027.