Polish energy company Polenergia closed the acquisition of a 60% stake in the developer of an up to 685.6-MW wind project in Romania for 3.5 million euros. The transaction took place on December 7, according to a bourse filing.
In October, Polenergia agreed to buy the majority stake in Naxxar Wind Farm Four Srl from Naxxar Renewable Energy Management Holding.
NWF 4 holds shares in the seven special purpose vehicles (SPVs) developing the N4 project, located in Tulcea County.
Polenergia previously said it plans to use this firm as a platform for the further development of the group’s operations and assets in Romania. It has extended a loan of up to EUR 3.78 million to NWF 4 as financing for the further development of the project.
Under the terms of the deal, Polenergia has the right to take full control of NWF 4 in the period from July 1 to December 31, 2024.
