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Romania: Jade Power Trust might sell its Romanian assets

26.May 2020.

Canadian-based Jade Power Trust (former Transeastern Power Trust) entered the Romanian market in 2014, with the takeover of 11 small hydropower plants, with a total capacity of 5.1 MW, acquired mostly from Romenergo.

Jade Power Trust has formed a special committee to explore several strategic options”, including a possible partial or total sale of its assets in the renewable energy sector in Romania. Another option would be to attract a potential strategic investor.

Canadian company continued to invest in Romania in solar and wind projects, and in 2017 they bought from OMV Petrom the Dorobantu wind farm, with a capacity of 45 MW, for which they paid 23 million euros.

In 2018, the company announced that it will use electricity produced at Dorobantu wind farm to mine cryptocurrencies, Bitcoin among others.