Romania’s first renewable energy co-operative – Cooperativa de Energie – has completed the acquisition of Apuron Energy, which will enable it to provide 100% green energy as of June. The acquisition was funded by investment from the co-operative’s members and a loan from Som Energia, the largest renewable energy co-operative in Spain.
Apuron Eenergy operated a solar power plant in Mavrodin, located in Teleorman county, in the south of Romania. The company supplied 40 GWh per year to 150 consumers, mostly small and medium-sized enterprises.
Members who have been granted a loan for a period of one year will receive an interest rate of 3.7% per annum, and those who have been granted a loan for a period of five years will receive 5.2% per annum.
Renewables account for 24% of the energy consumption in Romania. Among those investing was Andrei, who invested LEI 5,000 (£870): “I chose to invest in Cooperativa de Energie because I am confident that such an investment can be profitable.
“Since I was little I dreamed of making a photovoltaic park and through this investment I partially realised a dream. I also intend to start consuming only green energy because I am aware that we all need to change our mindset.”
The co-operative will launch commercial offers for individuals and legal entities later this month. Regulated prices were removed in January when electricity prices were fully liberalised in an attempt by the Romanian government to boost market competition.
Victor Iancu, president of Cooperativa de Energie, said: “We are proud to have been able to enter the market with the help of the community, which responded positively to our call to raise the amount needed to acquire the supply company. In addition to the commercial offers in the supply area, we want to launch other investment projects in photovoltaic panel fields as soon as possible, in order to become green energy producers as well. Our main objective is to facilitate in our country the energy transition to a market covered 100% with energy from renewable sources, in which citizens play an active role.”
Cooperativa de Energie has 627 members who have invested a total of LEI 6m (£1m).