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The Naxxar Group forges strategic partnership with Polenergia for NX4 Wind Farm
The Naxxar Group, formed by Romanian-capital companies and leading player in the renewable energy sector, is delighted to announce a significant milestone in its journey.
Naxxar Renewable Energy Management Holding has entered into a conditional agreement with Polenergia, the largest Polish private energy group, for the sale of a substantial 60% stake in development vehicle of the NX4 Wind Farm, one of the largest onshore wind energy projects in Romania and, by extension, also in Europe. NX4 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 meters per second.
”We are extremely proud that we convinced the most prominent private energy group in Poland, Polenergia, of the viability of our projects. Romania has a lot of unused resources and an enormous potential for renewables, and we are convinced it would reach quickly is target assumed with the European Union, according to Green Deal and its following commitments,” said Gerhard Kaiser, Founder and CEO of Naxxar Renewable Energy.
Naxxar would like to thank once more Alessandro Albrighi, founder and CEO of AD Capital Partners, who played a pivotal role in mediating the transaction and provided invaluable strategic advisory services on the seller's side.
The contribution of the Naxxar team members including Dana Casandra, Naxxar's Chief of Legal Department and Septimiu Iusan, Project Manager, has been instrumental in ensuring a smooth transaction process. Also, Mu?at & Asocia?ii team headed by Andrei Ormenean as the seller’s legal advisor ensured the successful negotiation and structuring of the agreement.
Naxxar projects for Romania exceed 2 GW for the mid-term
Naxxar's project pipeline extends beyond the wind farm NX4, encompassing an additional 1 Gigawatt (GW) of wind projects in various stages of development (from greenfield to ready to build in 2024). These projects are not included in the deal with Polenergia. Soon, Naxxar will also unveil plans for 1 GW of photovoltaic (PV) projects, stressing its commitment to diversifying renewable energy sources. “Energy storage and even green hydrogen are in the cards as well” says Naxxar’s Gerhard Kaiser. “On top, we are also examining options to expand to Italy and Spain”.
”The Naxxar Group started its work in January 2021. It has experienced a steep growth trajectory since then. The future projects will generate even more work for employees and local contractors, and will create a huge number of well-paid jobs. Our vision for Naxxar is to remain steadfast in its commitment to pioneering large-scale, innovative renewable energy projects, contributing to the energy transition and environmental sustainability,” said Mihai Necula, Country Manager, Naxxar Renewable Energy.
Naxxar plans to be one of the most important developers and employers in the renewables sector in Romania for the long term. It may eventually become an independent power producer (IPP).
”We are here to stay for the long term. This is why we plan to become one of the top employers in the Romanian market. Romania has very talented, multi-lingual well-skilled people and we look forward to complete our already fast-growing team with new local colleagues,” Mihai Necula added.
About Naxxar Renewable Energy
Naxxar Renewable Energy is a leading player in the renewable energy sector, dedicated to advancing the carbon-free energy transformation. With a diverse portfolio and a robust pipeline of projects, Naxxar is committed to reshaping the Romanian energy landscape. With 2 GW of projects under pipeline in Romania, Naxxar will become one of the most important developers in Romania and the region, contributing massively at Romania’s renewables target achievement over the longer term and to the development of the local industry and energy
market.