Electrica and EsyaSoft Holding Ltd. from Dubai, part of the International Holding Company (IHC) group, will form a joint-stock company (joint venture) dedicated to the production and operation of advanced technologies in the field of green energy. This partnership targets both the national and European markets. The information was confirmed through a document published on the Bucharest Stock Exchange (BVB).
On July 31, 2024, the Board of Directors of Electrica SA approved the establishment of a joint venture with EsyaSoft Holding Ltd. from Dubai, which is part of the International Holding Company (IHC) group.
The new joint-stock company will primarily focus on the production and operation of advanced green energy technologies, aimed at both the national and European markets.
The initial share capital of this company will be 90,000 lei, with subsequent contributions regulated by an agreement between the shareholders, with a projected amount of 100 million euros, proportional to the shares held by Electrica (25%) and EsyaSoft (75%).
Through this joint venture, in which Electrica will hold 25% of the share capital and EsyaSoft 75%, production units for green energy equipment will be developed, including electric energy storage solutions and digitalization technologies for the distribution network (smart meters).
Alexandru Chirita, CEO of Electrica, stated: “Building on our strategic statement – ‘The Promise of Innovation: Shaping a Sustainable Future’ – and in line with the national strategy, this partnership represents a significant step towards achieving our set goals. It also provides us with the opportunity to position ourselves as a major player in the transition to a more sustainable and efficient energy system, both locally and regionally, a goal we are very committed to. As we mentioned when launching our strategy, some of our main objectives are diversifying the services offered and exploring regional growth opportunities to strengthen our market position. One of these opportunities has materialized through our partnership with EsyaSoft, which will allow us to add a new dimension to the activities of the Electrica Group, for Romania and for all of us.”
Bipin Chandra, CEO of EsyaSoft Holding Ltd., added: “The partnership with Electrica allows us to bring the most advanced green energy technologies to Romania and to enhance our commitment to innovation and sustainability. We aim to contribute significantly to the development of a modern and efficient energy infrastructure, which will support the transition to a green economy and generate long-term economic and social benefits. We are confident that this collaboration will add value to both parties and strengthen Romania’s position as a regional player in the renewable energy sector.”
The project will also include the creation of infrastructure for electric vehicle charging. These new business segments will meet the growing demand in both the national and European markets, generate additional jobs, and provide direct and indirect benefits to the core activities of the Electrica Group.
EsyaSoft Holding Ltd. is a subsidiary of International Holding Company (IHC) from Abu Dhabi, UAE, specializing in modernization and automation solutions for electrical networks, including smart grid technologies, advanced metering infrastructure, electric vehicle charging, and energy storage. Previously, on May 16, 2024, Electrica announced the signing of a Memorandum of Understanding with EsyaSoft for collaboration on modernizing and automating the distribution network infrastructure.
