Portugal-based renewable energy producer GreenVolt said on Wednesday it has bought a 45 MWp photovoltaic park in Romania, which is valued at 83 million euro ($87 million)

Portugal-based renewable energy producer GreenVolt said on Wednesday it has bought a 45 MWp photovoltaic park in Romania, which is valued at 83 million euro ($87 million)

The acquisition was made through GreenVolt's subsidiaries V-Ridium Solar 45 and V-Ridium Renewables, it said in a press release.

The asset was owned by Samsung C&T Corporation, LSG Building Solutions and Green Source Consulting.

Part of the energy produced in the park is sold on the market, while another component of regular revenue are green certificates, which are valid until 2031. Most of these green certificates are contracted in euro with the German electric company EON, GreenVolt said.

"This purchase marks another step in the growth strategy defined by GreenVolt. LIONS park reinforces our generation capacity from renewable sources, opening up a wide range of possibilities for the commercialization of this energy," GreenVolt CEO Joao Manso Neto said.

GreenVolt expects to optimise the financial return of this asset through the establishment of a potential bilateral agreement for the sale of unregulated electricity (PPA) and by optimising the operational management of the park.

Lisbon-headquartered Greenvolt - Energias Renovaveis (Greenvolt), owned by Portuguese industrial group ALTRI, is mainly active in the sector of electricity production from forest biomass.

GreenVolt expanded into the markets of Bulgaria, Romania and Italy through V-Ridium, a Polish renewables developer based in Warsaw, in September. Greenvolt bought V-Ridium in July. The Polish company is focused on Poland, Greece, Italy, and France, and is actively exploring Bulgaria and Romania.

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