Electrica and Romgaz seal MoU for development of renewable energy production and storage capacities

     Leading energy company Electrica and national gas corporation Romgaz signed a Memorandum of Understanding for the development of renewable energy production and storage capacities with a total installed power of up to 400 MW, the electricity distributor announced in a release on Tuesday.Based on the convergence of their operational expertise and energy production capacities, the two companies will initiate a collaboration model to implement a shared vision: the integrated development of a capacity of 400 MW in renewable energy, generating a distinct value proposition on the regional market. The partnership will be implemented through a dedicated investment vehicle, in which Electrica will have the role of lead developer, and Romgaz will act as a minority strategic partner. The chosen structure allows for the exploitation of the strategic complementarities between the two entities, the release states.According to Electrica CEO Alexandru Chirita, the partnership with Romgaz marks a defining moment in the development strategy of the company he represents."After the success of the EUR 500 million green bond issue in July 2025 and the access to EUR 200 million in EIB financing, this collaboration with Romgaz proves that cooperation models between Romanian energy companies can significantly speed up the transition. We combine financial strength with technical expertise to develop together with Romgaz 400 MW of green capacity, which will directly contribute to the 2030 national renewable energy target," Chirita said in the release.In his turn, Romgaz CEO Razvan Popescu pointed out that the memorandum signed with Electrica confirms the commitment to investing in clean energy and strengthening the role as a pillar of Romania's energy security.Electrica Group provides services to approximately 4 million users, covering 18 counties in three geographical areas as far as electricity distribution is concerned (Northern Transylvania, Southern Transylvania and Northern Muntenia), and operating nationwide for electricity supply and energy maintenance and services.Romgaz Group is made up of the National Gas Company Romgaz (parent company) and the Gas Storage Branch Depogaz Ploiesti and Romgaz Black Sea Limited ('RBS'), both 100% owned by Romgaz.