The Chinese giant Shanghai Electric opened its company in Romania
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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 SRL was registered at the Trade Register, 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 three 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.
As I wrote at the beginning of this year , 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 at the tender for the construction of photovoltaic parks with a total capacity of about 450 MW that will be developed by Societatea Parc Photovoltaic Rovinari Est, owned in equal proportions by OMV Petrom and the Oltenia Energy Complex. The estimated value of the contract is 374 million euros. 70% of the investment is financed from the EU Modernization Fund.
The Chinese company is actually the leader of one of the eight consortiums and companies that submitted bids. In this auction, it has as subcontractor a company specialized in the field of energy infrastructure from Brașov, Electroconstrucția Elecon.
