Canadian investment company Transeastern Power Trust will purchase two solar parks in Romania, from RG Renovatio Group. The transaction will be carried out at the purchase price of 9.6 million, excluding debt.
A portion of the purchase price will be paid by issuing trust units (Trust Units) worth 1 dollar each. However, the trust will get through its subsidiaries, part of the amount needed to finance the acquisition from UniCredit Leasing Corporation IFN, Mediafax reports.
Solar parks have been operational for over two years and have a total capacity of over 16 kWp (1kilowatt peak represents the nominal energy obtained from a solar module, editor’s note).
"We are pleased that we have made the purchased agreements and the first installment of our issue of shares . We expect to complete the acquisitions and financing over the next few weeks," said Eadie Colter, general manager of Transeastern.
Transeastern Power Trust, through its subsidiaries in Canada, the Netherlands and Romania, was formed for the acquisition of assets in renewable energy in Romania, other European and non-European states meant to ensure a steady cash flow and return on investment.
In June 2014 Transeastern bought in Romania 11 small hydropower plants with an installed capacity of 5.1 MW within the projects of Rott, Zagra and Suha, one of the sellers being Romenergo, general contractor in the field of energy.
One of the Transeastern Power Trust board members is Peter Lificiu, former president of the National Regulatory Authority for Energy.