Polenergia has signed a conditional agreement to acquire 60% of the shares of Naxxar Renewable Energy Management Holding, as first reported by reNEWS in September.
Naxxar is developing one of the biggest wind farms in this part of Europe, an onshore project with a total capacity of up to 685.6MW, and has technical conditions for connection to the grid, Polenergia said.
Romania is the second largest economy in Central and Eastern Europe and at the same time one of the fastest growing economies on the Old Continent.
The Romanian energy market is the third largest market in the CEE region, Polenergia added.
Chairwoman of the supervisory board of Polenergia Dominika Kulczyk said: “This is a completely new stage in the development of Polenergia and another great step in the implementation of our very dynamic growth strategy.
“On the one hand, we are constantly and very quickly expanding our product and service portfolio.
“On the other hand, today not only do we produce energy, but also we have started delivering it to the end customer. Now it’s time for the third direction – going beyond Poland.”
The result of an agreement between Polenergia and Naxxar Renewable Energy Management Holding is the conditional purchase of 60% of shares in Naxxar Wind Farm Four Srl (NWF 4 for short).
NWF 4 holds shares in seven special purpose vehicles that are jointly developing a project called N4, which has technical conditions for connection to the grid.
N4 assumes the construction of wind farms with a total capacity of up to 685.6 MW, located in the Tulcea County, Dobrogea region, by the Black Sea.
It is one of the windiest areas in Romania, with average wind speeds exceeding 8 metres per second.