Source: Mercom India
ENNA Solar, a unit of Croatian-based renewables and logistics company ENNA Group, has signed an agreement to acquire a 166 MW solar project with a 612 MWh battery energy storage system in Romania.
The company signed a share purchase agreement to acquire a 100% equity stake in CIC GREEN ENERGY MEDGIDIA S.R.L., a Romanian special-purpose company that holds the rights to develop the Medgidia solar and battery storage project.
The project, located in the Medgidia area of Constanța County. Construction is scheduled to begin in the first quarter of 2027. The solar project is expected to begin commercial operations and supply electricity to the grid in the first quarter of 2028. Expected annual electricity generation is expected to be around 265,932 MWh.
Completion of the acquisition and transfer of the equity stake is subject to approval from the Romanian authority responsible for screening foreign direct investment and the relevant competition authorities in the applicable jurisdictions. The acquisition would expand ENNA Group’s renewable energy portfolio in Romania.
ENNA Solar has previously acquired the Mihăilești solar project in Romania, which has an installed capacity of 87.52 MW. The project also includes a 140 MWh battery storage system. Construction of the solar project is 89% complete, while development of the battery energy storage system is progressing in parallel.
According to Mercom’s 9M and Q3 2026 Solar Funding and M&A report, approximately 34.4 GW of solar projects were acquired in the first nine months of 2026, compared to 29 GW in the same period during 2025.
In October 2026, Estonian energy project developer Evecon, through its Lithuanian subsidiary UAB Evecon, sold a ready-to-build hybrid renewable energy project in Lithuania’s Marijampolė region to renewable energy developer Energix Renewable Energies for €25.4 million (~$28 million). The project includes development rights for wind, solar, and an energy storage facility located close together at the same site.
