Veolia Romania Acquires Majority Stake in General ME El Electric, Enhancing Energy Solutions Portfolio

Veolia Romania has taken a significant step forward in its strategic expansion by acquiring a majority stake in General ME El Electric, a prominent player in the design, execution, and maintenance of electrical systems and solar energy production in Romania. This acquisition not only completes Veolia's portfolio of public utility services but also aligns with its global commitment to ecological transition under the GreenUp initiative, which emphasizes investments in green energy.

By integrating General ME El Electric into its operations, Veolia Romania is poised to enhance its position as a comprehensive provider of energy solutions, particularly in the realm of electrical installations and photovoltaic projects. This move comes at a time when energy transition has become a pressing priority both nationally and across Europe. General ME El Electric has been an influential force in the local market for over three decades, boasting a portfolio that includes projects with a total installed capacity exceeding 200 MW, which features a 62 MW photovoltaic park currently under construction, alongside battery storage systems with a combined capacity of over 15 MWh.

The acquisition represents a pivotal development for Veolia Romania, which has been active in the Romanian market for 25 years. CEO M.D. Lin Mihailovici emphasized that this transaction not only enhances Veolia's existing capabilities but also reinforces its commitment to sustainable investments that yield tangible benefits for the modernization and development of local energy infrastructure. Together with the team at General ME El Electric, Veolia aims to accelerate growth and deliver exemplary projects in electrical installations, akin to its achievements in water resource management.

Moreover, General ME El Electric's expertise is expected to bolster Veolia Romania's performance in its core water supply and sewage systems, where it already holds a market-leading position. The integration will facilitate the implementation of innovative solutions aimed at reducing carbon footprints and ensuring long-term energy self-sufficiency.

The partnership with the Veolia group, a global leader in energy and environmental services, presents an exciting opportunity for General ME El Electric to thrive. Founder Valeriu Stoicescu remarked that joining Veolia would grant access to international expertise and best practices, empowering the company to innovate and respond more effectively to local market demands, while continuing its commitment to the sustainable development of Romania's energy sector.

As General ME El Electric anticipates reaching a turnover of EUR 50 million within the next five years, following a successful 2024 in which business increased by 22% to over EUR 37 million, Veolia's acquisition will also involve a seamless transition for the company's 180 employees, many of whom are engaged in operational roles. The management team will retain a stake in the company, ensuring continuity and leveraging Veolia's global resources and know-how.

Veolia's strategic vision includes expanding its portfolio of advanced solutions, as evidenced by its recent acquisition of another local firm, which is currently implementing geoexchange systems utilizing geothermal energy for heating and cooling. This initiative, along with solutions for energy recovery from wastewater, underscores Veolia's commitment to innovative, sustainable practices that address the evolving needs of the energy landscape in Romania.