GreenVolt expects no impact on ops in Romania, Poland from war in Ukraine

Source: GreenVolt

BUCHAREST (Romania), March 16 (SeeNews) - Portugal-based renewable energy producer GreenVolt said on Wednesday that it does not expect the war in Ukraine to affect the operations of its Polish unit V-Ridium (V-R) in Romania or Poland.

"It should be noted that Greenvolt does not expect any material adverse effects given the dramatic situation in Ukraine, despite V-R having significant activity in Poland and Romania," GreenVolt said in its financial report for the fourth quarter of 2021 published on Tuesday.

During the fourth quarter of 2021, V-R entered into co-development agreements in Italy, Greece and Romania, with well-known developers in those markets, GreenVolt said. During the first quarter of 2022, GreenVolt established a co-development agreement with a Serbian promoter.

GreenVolt expanded into the markets of Bulgaria, Romania and Italy through V-Ridium, a Polish renewables developer based in Warsaw, in September. Greenvolt bought V-Ridium in July. The Polish company is focused on Poland, Greece, Italy, and France, and is actively exploring Bulgaria and Romania.

Lisbon-headquartered Greenvolt - Energias Renovaveis (Greenvolt), owned by Portuguese industrial group ALTRI, is mainly active in the sector of electricity production from forest biomass.

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