Joint Venture Incorporation - Electrica - Esyasoft

Societatea Energetica Electrica SA

22 November 2024

 

                                                                                                                         22 November 2024

Electrica and Esyasoft incorporates a company acting
in the field of electricity storage and smart grid technologies

Electrica is thrilled to announce that today, 22 November 2024, in the presence of the Romanian Ministry of Energy, Mr. Sebastian Burduja, at his headquarters, the official signing of the incorporation documents for our new company Electrica Esyasoft Smart Solutions S.A. took place, marking a significant milestone in our journey towards innovation and excellence.

Electrica Esyasoft Smart Solutions S.A. (owned 25% by Societatea Energetica Electrica SA and 75% by Esyasoft Enterprise Holding RSC LTD) will focus on smart grid technologies (including battery storage and digitalization solutions). With a team of seasoned professionals and a robust strategic plan, it aims to make a substantial impact in the Romanian energy sector.

"The exceptional results that Romania has recently achieved in the energy sector, the increasing performance of Romanian companies in the field, with those having state capital occupying a leading position, have paved the way for very important partnerships for what will happen in the future.

Partnerships between Romanian companies and major players in the global market will bring, in addition to concrete results for our country, an increase in Romania's reputation, as well as the confidence of international markets in what we are doing here at home," said Sebastian Burduja, Ministry of Energy.

"The new company is set to revolutionize the energy equipment sector through cutting-edge solutions and a firm commitment to excellence. This entity incorporation reflects our determination to stimulate evolution, promote innovation and delivering added value for our shareholders. We are looking with enthusiasm at this new stage and are confident that we will set new benchmarks in the industry. Our goal is to drive innovation and deliver exceptional value to our customers and partners." said Alexandru Chirita, the CEO of Electrica.

"This partnership with Electrica marks an important step toward the journey towards implementing state of the art smart grid technologies in the European region. We are excited to bring our expertise to this long-term collaboration and contribute to Romania's energy transition goals", said Bipin Chandra, the Group CEO of Esyasoft Holding Ltd.

Esyasoft Group, Abu Dhabi, is specialised in providing end to end Network Grid Modernization and Automation, through Smart-grid Technologies, Advanced Metering Infrastructure (AMI), EV Charging Infrastructure, Energy Storage and Consumer Engagement, communication network, IT, IoT, and advanced analytics and AI solutions for power, gas, and water utilities. Esyasoft has been providing critical Network Grid Modernization and Automation Solutions Globally, having offices in over 10 countries, including UAE, India, Azerbaijan, Netherlands, United Kingdom, and Americas, serving over 35+ global utility companies. 

Electrica Group is a key player in the electricity supply, distribution and production market in Romania, as well as one of the most important players in the energy services sector. Electrica Group provides services to almost 4 million users and has national coverage - with a coverage of 18 counties from three geographical areas for the distribution of electricity: Northern Transylvania, Southern Transylvania, Northern Muntenia, and across the country for the supply of electricity and for energy maintenance and services. This year, Electrica celebrated 10 years from its dual listing on the Bucharest and London Stock Exchanges, when it has become a company with private majority capital.

Electrica announced on the 16th of May 2024 the signing of the Memorandum of Understanding with Esyasoft - BSE:Iris Code 6D6FE and LSE:RNS Code 7937O.

Contact details: Electrica Investor Relations - [e-mail] ; [phone]

CEO Electrica - Alexandru Chirita

 

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