The Austrian investment fund Core Value Capital, the owner of one of the largest solar parks in Romania, has planned investments of 800 million Euros in Romanian photovoltaic projects with a total capacity of 1GW, equivalent to 70% of the current installed capacity in solar power plants, according to information obtained by Profit.ro
Core Value Capital, which manages the assets of a number of millionaires and institutional investors, owns a 50 MW photovoltaic park in Giurgiu, developed in 2012-2014 following an investment of almost 90 million Euros. During the same period, the largest solar park in the country was built, in Brașov, with a capacity of 55 MW. The fund’s projects are developed by LSG Group, which also built and operates Samsung’s 45 MW photovoltaic park in Giurgiu, located about 10 kilometers away from the Austrians.
Currently, the Austrian fund owns photovoltaic parks of about 300 MW in Austria, Russia, Romania and Hungary. The Core Value Plan comes at a time when Romania intends to add a new capacity of 6.9 GW of renewable energy by 2030. It is estimated that more than 3.7 GW of this capacity will be solar projects. Romania aims to reach a share of 30.7% of the country’s energy consumption from renewable sources by 2030. Currently, Romania has a total installed capacity of 3 GW in wind farms and almost 1.4 GW in power plants solar, according to the official data of the National Energy Regulatory Authority.