BUCHAREST: Electrica Group has announced the signing of a Memorandum of Understanding (MOU) with Esyasoft Holding Ltd. The agreement, signed on May 16, 2024, in Bucharest and witnessed by the Prime Minister of Romania, marks a collaborative effort to deploy and finance smart-grid technologies in Romania, including Advanced Metering Infrastructure (AMI), electric vehicle (EV) charging stations, energy storage, and consumer engagement initiatives.

The MOU, valid for one year with an option to extend, sets the stage for Electrica and Esyasoft to work together on Network Grid Modernization and Automation.

This includes forming a Joint Venture or Special Purpose Vehicle (SPV), or any other legal framework within Romanian and EU regulations, to facilitate the transfer of know-how and development of modern energy infrastructure.

Esyasoft Holding Ltd., a subsidiary of the Abu Dhabi-based International Holding Company (IHC), specializes in comprehensive solutions for Network Grid Modernization and Automation.

With a global presence in over 10 countries and serving more than 35 utility companies worldwide, Esyasoft brings a wealth of experience in smart-grid technologies, AMI, EV charging infrastructure, energy storage, and consumer engagement, backed by advanced communication networks, IT, IoT, analytics, and AI solutions.

Electrica Group, a leading entity in Romania’s electricity supply, distribution, production, and energy services sectors, serves approximately 3.9 million users. With a presence in 18 counties across three geographical regions—Northern Transylvania, Southern Transylvania, Northern Muntenia—Electrica has been a publicly listed company with majority private capital on the Bucharest and London Stock Exchanges since July 2014.

This partnership is poised to enhance the efficiency and sustainability of Romania’s energy sector, propelling it towards a future of innovative and customer-centric energy solutions.