Trust acquired Romanian wind farm

02/01/2018 13:35 Wind

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Transeastern Power Trust has finalized the purchase of the 45MW OMV wind farm in Romania.

OMV Petrom, former owner of the project, sold all the shareholder’s loans and shares in OMV Petrom Wind Power to the Trust. Trust energy firm employed $23 million in short term funding and €2.8 million from the wind farm seller to accomplish the transaction.


The amount of money will be repaid out of the profits of a $40 million private placement expected to close in the first week of January.


Trust chief executive J Colter Eadie revealed that the organization is switching from a renewable energy business to a vertically integrated cryptocurrency mining activity.


He also added: “We are well positioned to power our mining operations primarily through clean energy generated at our own operations at nominal cost augmented by revenue from green certificates earned through the generation of renewable energy.” 

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