Polenergia SA, a prominent Polish energy company , has secured a conditional deal to acquire a majority holding in a company spearheading a wind farm portfolio in Romania, marking its entry into the local renewable energy market.
The agreement, announced by the Polish group, entails the purchase of a 60% stake in a special-purpose vehicle owned by Bucharest-based Naxxar Renewable Energy Management Holding. The target entity, named Naxxar Wind Farm Four Srl, holds shares in seven companies collaboratively developing the N4 wind farm portfolio.
Situated in Tulcea County, southeastern Romania’s Dobrogea region, the N4 portfolio encompasses wind farm projects set along the wind-abundant Black Sea coast. All projects in this portfolio have met technical requirements for grid-connection, as affirmed in the company’s statement.
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Michal Michalski, President of Polenergia’s management board, stated, “We are opening up to new markets and simultaneously working towards a gradual increase in generation capacity from our renewable sources.”
According to the arrangement, Polenergia will hold the right to acquire the remaining 40% of Naxxar Wind Farm Four between July 1 and December 31, 2024.
Furthermore, Polenergia disclosed that it has inked a conditional agreement to purchase a 60% stake in a special-purpose vehicle managing one of the largest wind farm projects in Central and Eastern Europe, situated in Romania. This wind farm endeavor, known as N4, is set in Tulcea County, a region renowned for its high average wind speeds exceeding 8 meters per second.
N4 is currently under development by a special purpose vehicle named Naxxar Wind Farm Four Srl (NWF 4). Polenergia holds the option to acquire the remaining 40% of NWF 4 from Romania’s Naxxar Renewable Energy Management Holding between July 1 and December 31, 2024.
The acquisition of NWF 4 shares aligns with Polenergia’s strategic vision for 2020-2024, serving as a foundational platform for the company’s future operations and asset development in Romania.
Dominika Kulczyk, Chairwoman of the Supervisory Board of Polenergia, highlighted the strategic significance of venturing into Romania, citing the potential to significantly increase wind and solar power generation. She emphasized that this agreement positions Polenergia as a key player in renewable energy within Central and Eastern Europe.
