Electrica announces the completion of the competitive procedure for the selection of an EPC Contractor and the signing, by its subsidiary Foton Power Energy S.R.L., of an EPC (Engineering, Procurement & Construction) contract for the „Bihor 1” photovoltaic project.

The implementation of the photovoltaic park, the 110 kV transformer substation and an electricity storage installation with a capacity of 18 MWh, as well as their operation and maintenance for a period of 3 years from commissioning, are included in a contract of approximately EUR 36.6 million (excluding VAT).

The „Bihor 1” photovoltaic project has an installed capacity of approximately 78,8 MWp and is located within the administrative area of the Cefa and Mădăraș communes, Bihor County, being developed through the subsidiary Foton Power Energy S.R.L., wholly owned by Electrica.

The next step in this project is the start of the actual construction works, Electrica estimating its completion and commissioning in line with the project schedule. This objective is part of Electrica Group’s strategy of expanding on the electricity value chain, in the area of electricity production from renewable sources.

The financing of the project’s investment costs will be ensured, on a priority basis, from the funds raised by Electrica through the green bond issuance in 2025.