WALDEVAR Holding Acquires High-Voltage expert ELEMO, Launches WALDEVAR Power Grid to Create Romania’s First Fully Integrated Renewable Energy Infrastructure Platform

The transaction comes as Romania strengthens its position among Europe’s fastest-growing renewable energy markets. With accelerating investments in solar, battery storage and grid infrastructure, the acquisition reflects the increasing consolidation of the country’s energy infrastructure sector.

BUCHAREST, ROMANIA – July 9th, 2026 – WALDEVAR Holding, a leading provider of turnkey EPC (Engineering, Procurement and Construction) solutions for utility-scale photovoltaic and hybrid energy projects, today announced the completion of the strategic acquisition of Elemo, a recognized expert with more than 30 years of experience in high and extra-high-voltage electrical infrastructure. Following the acquisition, Elemo will operate under a new brand identity: WALDEVAR Power Grid.

Romania is rapidly establishing itself as one of Europe’s fastest-growing renewable energy markets, driven by accelerating investment in solar energy, battery storage and grid infrastructure. Against this backdrop, the acquisition marks an important step in the consolidation of the country’s energy infrastructure sector.

This acquisition marks a paradigm shift in the regional energy sector. Grid connection capacity has become the primary bottleneck for renewable energy projects. By integrating Elemo’s extensive capabilities in the execution of high and extra-high-voltage overhead transmission lines (OHL), including infrastructure exceeding 400 kV, WALDEVAR completes its end-to-end service portfolio. The group now has full control over the entire value chain: engineering, construction, BESS (Battery Energy Storage System) integration, hybridization and, most importantly, connection to Romania’s National Power Grid through its own in-house resources.

Leadership Vision

“Building a photovoltaic park is only one part of the equation. Fast and reliable grid connection is the critical point where large-scale projects face their greatest challenges. By integrating Elemo’s outstanding expertise and launching WALDEVAR Power Grid, we are no longer simply an EPC contractor, we are a fully integrated energy infrastructure group. We significantly reduce project execution risks for investors because we now have the capability to deliver utility-scale photovoltaic projects on a full turnkey basis and, as of today, we also possess the expertise, capabilities and resources to connect them to the national electricity grid entirely with our own teams.” – Christian Leonte, CEO, WALDEVAR Holding

“Since 1994, our team has been the technical force behind Romania’s high-voltage infrastructure. Becoming part of the WALDEVAR group and evolving into WALDEVAR Power Grid provides us with the platform and the capital required to scale our operations to the next level. We will continue serving our long-standing customers with the same engineering excellence they have always relied on, now backed by the financial strength and logistical capabilities of one of Europe’s leading energy infrastructure groups.” Ioan Popoviciu, General Manager, WALDEVAR Power Grid (formerly ELEMO)

Strategic pillars of WALDEVAR Power Grid:

Accelerating grid connection: Investors and developers now benefit from faster project execution, as WALDEVAR Power Grid assumes full responsibility for the engineering, construction and maintenance of grid connection infrastructure, eliminating dependence on third-party subcontractors.
Unprecedented financial and operational strength: WALDEVAR Power Grid combines Elemo’s execution capabilities and engineering agility with WALDEVAR Group’s robust financial platform, immediately positioning the company as a heavyweight partner for transmission and distribution system operators.
Elite technical expertise: The company brings an extensive portfolio that includes the construction of more than 1,500 km of high-voltage transmission lines, installation of over 4,000 km of optical ground wire (OPGW) on high-voltage networks, complex helicopter-assisted installation operations, and advanced technical certifications issued by Romania’s National Energy Regulatory Authority (ANRE): C1B, D1, D2 and E2.

About the companies

About WALDEVAR Holding: WALDEVAR Holding is a Bucharest-based group of companies operating across the entire value chain of utility-scale renewable energy projects—from engineering and construction to grid connection, energy storage integration, and operations & maintenance. The Group consists of the following companies: WALDEVAR Energy, WALDEVAR Floating PV, WALDEVAR Power Grid, WALDEVAR O&M, WALDEVAR Security, WALDEVAR Robotics, as well as WALDEVAR Foundation, through which the Group extends its mission beyond infrastructure by investing in local communities through educational programmes and strategic initiatives that contribute to building a more sustainable future. With more than 3.5 GW of installed or currently under construction capacity across Romania, Germany, the Czech Republic, Italy and France, a workforce of more than 2,000 in-house specialists, and a fleet of over 400 heavy construction machines, WALDEVAR is one of Europe’s largest EPC contractors in the renewable energy sector.

About WALDEVAR Power Grid (formerly Elemo): Founded in 1994 with fully private capital, the company has established itself as a leading Romanian player in the engineering, construction and maintenance of overhead electrical networks ranging from 0.4 kV to 750 kV. Supported by a team of highly qualified specialists holding Romania’s highest ANRE certifications (C1B, D1, D2 and E2), the company has built an impressive portfolio serving major clients including Transelectrica, Distribuție Energie Electrică România, Delgaz Grid, and Rețele Electrice. The company delivers complex turnkey infrastructure projects while maintaining the highest standards of engineering excellence, operational safety and technological innovation.