Polenergia SA, a Polish energy major, decided to purchase a conditional majority interest in a firm establishing a portfolio of up to 685.6 MW wind farms in Romania. Reportedly, the company is committed to purchase a 60 per cent stake in the special-purpose vehicle from Naxxar Renewable Energy Management Holding, based in Bucharest.
Furthermore, the Naxxar Wind Farm Four Srl possesses shares in seven companies that are working together to construct the N4 portfolio. The wind farm deal includes projects to be built in Tulcea County, which is located in southeastern Romania’s Dobrogea region near the Black Sea and all of them comprise the technical criteria for grid connection. Additionally, Polenergia will have the decision to purchase the rest of the 40 per cent of Naxxar Wind Farm Four between July 1 and December 31, 2024, per the terms of the agreement.
In September 2023, Solaria obtained €1.7 billion in framework financing from the European Investment Bank (EIB), to support the construction of 120 solar power plants covering Spain, Italy and Portugal. The framework agreement has a long-term project finance structure, which comprises several loans provided by financial institutions.
REGlobal’s Views: With this major deal, Polenergia enters the attractive renewable energy market of Romania. The company plans to significantly expand its reach and market share in the renewables space in the Central and Eastern Europe regions.
