Shanghai Electric Signs Parau Phase II 342 MW PV Project with Econergy, Supporting Romania's Green Future

As Shanghai Electric's fourth photovoltaic project in Romania, this initiative marks a major step forward for the country's clean energy sector.

SHANGHAI, Oct. 24, 2025 /PRNewswire/ -- Shanghai Electric (SEHK: 2727, SSE: 601727) celebrated a major milestone on October 1 with the signing of the second phase of the 342 MW photovoltaic (PV) general contracting project (the "Project") in Parau, Romania, with Econergy Renewable Energy Ltd. ("Econergy"). Once completed, the project is expected to supply clean electricity to both residential and commercial users, underscoring Shanghai Electric's steadfast commitment to advancing green energy development across Central and Eastern Europe.

"Shanghai Electric will continue to harness its technological strengths in wind power, photovoltaics, and energy storage to drive the region's green transition," said Mr. Wu Lei, Secretary of the Party Committee and Chairman of Shanghai Electric Group. "Building on our successfully completed projects in Romania, we aim to further strengthen our presence across Central and Eastern Europe and deliver tailored solutions that accelerate Romania's energy transformation."

The Project also represents a key component of Econergy's strategic expansion across Romania and the wider Central and Eastern European region. According to Andrea Loi, Vice President of Operations at Econergy, "Our decision to partner with Shanghai Electric reflects our full confidence in its technical expertise, project execution capabilities, and extensive international experience. We look forward to close cooperation between our teams to ensure the smooth progress and successful commissioning of this landmark project."

The Parau Phase 2 project is Shanghai Electric's fourth photovoltaic initiative in Romania, building upon the company's established track record in the country's renewable energy sector. This follows the successful commissioning of the Parau Phase I 91.4 MW PV project, which was also executed by Shanghai Electric under an EPC contract. The Phase I project received its Provisional Acceptance Certificate from the client in November 2024 and now supplies green electricity to approximately 70,000 households, reducing carbon dioxide emissions by about 6,800 tons annually. Shanghai Electric's Romanian portfolio further includes the Schultu 56 MW PV Project, which achieved provisional acceptance in June of this year and has now entered its two-year warranty and operation period, while the Ovidi's 60 MW PV EPC project, contracted in January, is currently under construction.

As of October 2025, Shanghai Electric's projects in Romania have a combined capacity of approximately 550 MW, providing sustained momentum for the nation's long-term clean energy development.

On the same day as the signing of the Parau Phase II 342 MW PV project, Mr. Wu Lei held separate meetings with Chinese Ambassador to Romania Chen Feng and Istvan-Lorant Antal, Chairman of the Romanian Energy Committee. "Romania is actively advancing its energy structure transformation, primarily in the areas of photovoltaics, energy storage, gas turbines, and power transmission and distribution. We're looking forward to deepening cooperation with outstanding enterprises like Shanghai Electric to jointly develop renewable energy projects," said Istvan-Lorant Antal.

Mr. Wu Lei also conducted high-level talks with executives from Austria's OMV Group to explore new cooperation opportunities in the region's energy sector, further strengthening Shanghai Electric's pivotal role in Romania's renewable energy transition.

For more information, please visit https://www.shanghai-electric.com/group_en/.

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