Tinmar Group to invest 150 million Euro in renewable energy in the next three years

“Tinmar Group’s strategy, since 2011, has been focused on the establishment and development of renewable energy production capacities, practically following a staged course according to the multi-year plans established within the company.

Thus, in 2012, the Group started the first stage of the investment plan, developing from scratch photovoltaic projects with an installed capacity of 50 Mwp.

During the last 3 years, the Tinmar Group continued its development strategy through a policy of acquisitions of photovoltaic parks in operation. The company has invested over 50 million euros in this regard, thus managing to double its installed capacity from the portfolio, currently operating over 105Mwp of installed power in photovoltaic parks,” says Carla Corb, Marketing & Corporate Communication Director.

Tinmar Group is allocating for investments in renewable energy a capital of approximately 150 million euros for the next 3 years to continue the expansion policy.

Thus, the company has 3 strategic investment directions:

The first investment component refers to the partnership with the CEO to which the company will allocate over 50% of the investment capital. This is how they will be put into operation:

– 4 photovoltaic plants together with CE Oltenia – installed capacity of 280 MWp, until 2025

– to which is added a gas plant with an installed power of at least 475MW, until 2027.

For the development of this Partnership with the CE Oltenia Group, joint-venture companies Tinmar Energy and CE Oltenia were established, as follows:

– Project 1, SPV type joint company, regarding the implementation of a photovoltaic park with an installed power of 83 MW – SE Rovinari;

– Project 2, SPV joint company, regarding the implementation of a 112 MW photovoltaic park – SE Turceni;

– Project 3, Joint SPV Company regarding the implementation of a park with installed power of 66MW Pinoasa, SE Rovinari;

– Project 4, SPV mixed company, regarding the implementation of a 19 MW photovoltaic park Bohorelu SE Rovinari;

– Project 5, Joint SPV Company regarding the implementation of a block of at least 475 MW on natural gas at SE Turceni.

Thus, on 17.07.2023 in the presence of the Minister of Energy, Sebastian Burduja, the parties signed the financing contracts for the 5 projects.

The projects will benefit from funding from the Modernization Fund in proportion to 70% of the investment value for the photovoltaic parks and 50% for the CCGT Turceni gas plant. According to the estimated calendar, the photovoltaic parks will be operational in 2024 and the gas plant in 2026.

These financing contracts represent an important step towards a green and sustainable economy, providing growth and development opportunities for Romania.

A second investment component will be allocated to the purchase of operational parks, while the third investment component will be allocated to the development and construction of photovoltaic parks from scratch, including storage batteries.

“In the medium term, we want to exceed 1 GWP in owned or operated generation capacity,” says Carla Corb – Marketing & Corporate Communication Director – Tinmar Energy.