The farm will have an installed capacity of 87.52 MW, with an expected average annual electricity production of 133 GWh.

Zagreb, April 11, 2025 – Croatian company ENNA Solar, a member of the ENNA Group, has signed an agreement with Austrian company Kraftfeld Energy for the acquisition of a ready-to-build solar power plant project in Romania.

ENNA Solar d.o.o. and Kraftfeld Energy GmbH signed a share purchase agreement outlining the conditions for the acquisition of 100% of the business shares in the special purpose vehicle PVP Cepheus S.R.L., owned by Kraftfeld, which developed the solar farm project in Giurgiu County.

The solar farm will be built in Mihăilești, 25 kilometres southwest of Bucharest, and will cover an area of 93 hectares – approximately the size of 130 football fields. Construction is expected to begin in the third quarter of 2025, with the plant becoming fully operational and connected to the grid by the third quarter of 2026.

The farm will have an installed capacity of 87.52 MW, with an expected average annual electricity production of 133 GWh.

ENNA Solar d.o.o., part of the Energy division of the ENNA Group, focuses on the development and investment in renewable energy power plants, such as solar and wind farms.

The investment in the solar power plant in Romania aligns with ENNA Group’s ten-year development plan, which includes investments totalling €330 million in solar parks in Croatia and abroad.

“This project demonstrates our commitment to the green transition and ENNA Group’s strategic focus on investing in renewable energy sources. With this, ENNA Solar is expanding its portfolio of non-integrated solar power plants beyond Croatia and entering the large Romanian market. This is a major step that highlights our strength and ambitions. The investment, valued at around €60 million, represents our first large-scale project outside of Croatia and one of our biggest green energy production investments to date,” said Boštjan Napast, President of the Management Board of ENNA Group.

The solar farm located in Giurgiu County was developed by the Austrian company Kraftfeld Energy through a special purpose vehicle. Kraftfeld develops, owns and operates solar farms and energy storage systems in several European countries, primarily Romania, Hungary, Croatia and Austria.

Florian Kneidinger, managing director of Kraftfeld Energy, explains, “Bringing Mihăilești to ready-to-build status and closing this sale to ENNA is a testament to our team’s execution capability and deep market know-how. It underlines Kraftfeld’s role as a reliable developer of grid-scale renewable energy projects and reinforces our focus on delivering results in key markets like Romania.”

The transaction's completion is subject to approval by the relevant competition authorities and foreign investment regulators in Romania, after which the business shares will be transferred to ENNA Solar.

With the aim of offering clean, green energy to the market, ENNA Group already has around 50 MW of completed renewable energy projects or those in an advanced stage of readiness, as well as approximately 350 MW in various stages of development.

ENNA Group is also investing in geothermal energy projects for electricity production, with two active geothermal power plant projects near Slatina and Babina Greda (20 MW and 15 MW, respectively), representing a total investment of €240 million.

In the Energy division, ENNA is also investing in the development of battery energy storage systems.

ENNA is also making strong investments in the logistics sector, with the Rijeka Gateway container terminal expected to open this fall. So far, €200 million has been invested in the project.

Overall, ENNA plans to invest €1 billion in the coming period through its Energy and Logistics divisions.