Alina Oprea • 13 October, 2023 at 8:21 AM
Naxxar Renewable Energy Management Holding has entered into a conditional agreement with Polenergia, for the sale of a substantial 60% stake in the 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 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 its 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 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. 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 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 completing our already fast-growing team with new local colleagues,” Mihai Necula added.