October 6 (SeeNews) - Polish energy firm Polenergia said Friday it has signed a conditional agreement to acquire a 60% stake in a special-purpose vehicle developing one of the biggest wind farms in Central and Eastern Europe in Romania, with a total capacity of up to 685.6 MW.
The wind farm project, known as N4, is located in the southern county of Tulcea, one of the windiest areas in Romania, with average wind speeds exceeding 8 metres per second.
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The project is being developed by a special purpose vehicle called Naxxar Wind Farm Four Srl (NWF 4), Polenergia said in a press release. The Polish company has 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 shares in NWF 4 is part of Polenergia's strategy for 2020-2024 and is intended to be a platform for further development of group operations and assets in Romania.
"Entering Romania means the possibility of doubling the power from wind and solar that we have today. Thanks to this agreement, Polenergia will take the place of one of the leaders in renewable energy in Central and Eastern Europe," said Dominika Kulczyk, Chairwoman of the Supervisory Board of Polenergia.