A company from the Chinese conglomerate Shanghai Electric established a subsidiary in Romania. The Chinese company submitted a bid to build the photovoltaic parks developed by Petrom together with the Oltenia Energy Complex.
Last month, Shanghai Electric Romania Company S.R.L. was registered at the Trade Registry, according to data from the Official Gazette. The main activity of the new company is “construction works of utility projects for electricity and telecommunications”, and the share capital is 3 million lei.
The founder and sole shareholder is the company Shanghai Electric HongKong International Engineering, with its headquarters in Hong Kong. The firm is part of the Shanghai Electric Group, a Chinese giant with total assets of nearly 400 billion yuan (50 billion euros) and 75,000 employees, which is on Fortune’s list of the 500 largest Chinese companies.
Shanghai Electric Hong Kong International Engineering Company Limited, i.e. the founder of the new company registered in Romania, is one of the companies that submitted an offer to the tender for the construction of photovoltaic parks with a total capacity of about 450 MW to be developed by Societatea Parc Fotovoltaic Rovinari Est , owned in equal proportions by OMV Petrom and Complexul Energetic Oltenia. The estimated value of the contract is 374 million euros. 70% of the investment is financed from the EU Modernization Fund.
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