The General Meeting of Shareholders of Hidroelectrica approved the transaction for the purchase of 100% of the shares held by Steag GmbH and Steag 2 Beteiligungs GmbH in Crucea Wind Farm S.A. and Flag Energy Romania S.R.L., in accordance with the bid submitted and the negotiated sale-purchase agreement (SPA), Hidroelectrica said in a statement.

Developed by STEAG and put into operation in 2014, Crucea Wind Farm is one of the most modern and best maintained onshore wind farms in Romania, with an installed capacity of 108 MW, says Hidroelectrica.

“The decision taken by the shareholders makes Hidroelectrica the first state-owned company to mark a successful M&A. It is a success for both the Romanian state and society, a moment that changes perspectives and demonstrates that when there is interest and involvement, Romanian energy companies can be at least as competitive in the development area as private ones.

The acquisition of Crucea Wind Farm confirms the objective we assumed when we put on the table the Hidroelectrica strategy – that of diversifying the company’s production portfolio and making green energy a unique development priority,” said Bogdan Badea, president of Hidroelectrica’s Directorate.