Renewable energy company Polenergia has inked a conditional agreement to acquire a 60% stake in Naxxar Renewable Energy Management Holding.
Naxxar is currently spearheading the development of one of Europe's most substantial onshore wind farms, boasting a total capacity of up to 685.6 megawatts (MW). The project has already secured technical prerequisites for grid connection, according to Polenergia.
Romania, the second-largest economy in Central and Eastern Europe, is experiencing rapid economic growth, making it one of the fastest-growing economies on the continent. Notably, the Romanian energy market ranks as the third-largest within the Central and Eastern European (CEE) region, as highlighted by Polenergia.
Dominika Kulczyk, Chairwoman of the supervisory board of Polenergia, expressed enthusiasm about the company's strategic expansion, stating, “This marks an entirely new phase in Polenergia's development and represents a significant stride in realizing our dynamic growth strategy. We are not only continuously expanding our product and service offerings but have also ventured into energy delivery to end customers. Now, we are embarking on a new dimension – extending our reach beyond Poland.”
The agreement between Polenergia and Naxxar Renewable Energy Management Holding involves the conditional acquisition of a 60% stake in Naxxar Wind Farm Four Srl (NWF 4). NWF 4, in turn, holds shares in seven special purpose vehicles collaboratively advancing the N4 project, which has already met the technical prerequisites for grid connectivity.
The N4 project encompasses the development of wind farms with a combined capacity of up to 685.6 MW, strategically located in Romania's Tulcea County within the Dobrogea region, near the Black Sea. This region boasts consistently high average wind speeds, exceeding 8 meters per second, making it a promising hub for wind energy generation.
