WALDEVAR Holding, a Bucharest-based EPC contractor specializing in utility-scale photovoltaic and hybrid energy projects, has acquired Elemo, a Romanian high-voltage electrical infrastructure company with more than 30 years of operating history. Following the transaction, Elemo will rebrand as WALDEVAR Power Grid. Financial terms were not disclosed.
The acquisition addresses what WALDEVAR describes as the primary bottleneck for large-scale renewable energy projects in Romania: grid connection. While WALDEVAR previously handled the engineering, procurement, and construction of solar and hybrid energy installations, connecting those projects to Romania’s national power grid required external contractors. By absorbing Elemo’s high-voltage expertise and certifications in-house, WALDEVAR can now deliver utility-scale renewable projects end-to-end using its own resources.
WALDEVAR Power Grid brings a substantial operational portfolio to the combined entity, including more than 1,500 kilometers of high-voltage transmission lines, over 4,000 kilometers of optical ground wire installed on high-voltage networks, helicopter-assisted installation capabilities, and technical certifications from Romania’s National Energy Regulatory Authority covering categories C1B, D1, D2, and E2. Elemo, founded in 1994 with fully private capital, operates across the voltage range from 0.4 kV to 750 kV.
WALDEVAR Holding already operates at significant scale, with more than 3.5 gigawatts of renewable energy capacity installed or under construction across Romania, Germany, the Czech Republic, Italy, and France, supported by more than 2,000 in-house specialists and over 400 heavy construction machines. The company describes itself as one of Europe’s largest EPC contractors in the renewable energy sector.
The transaction comes as Romania has emerged as one of Europe’s faster-growing renewable energy markets, with accelerating investment in solar, battery storage, and grid infrastructure creating demand for contractors capable of delivering fully integrated project solutions.
KEY QUOTE:
“Building a photovoltaic park is only one part of the equation. Fast and reliable grid connection is where large-scale projects face their greatest challenges. By integrating Elemo and launching WALDEVAR Power Grid, we have become a fully integrated energy infrastructure group capable of delivering utility-scale renewable projects entirely with our own resources.”
Christian Leonte, Chief Executive Officer, WALDEVAR Holding
