The agreement includes the construction of the wind farm, valued at €214 million.
The project is located in eastern Romania and will feature 16 Vestas turbines, model V162-6.2 MW. It has secured grid access through a connection contract signed with Transelectrica in March 2023. OX2 will be responsible for constructing the wind farm, starting in Q3 of this year, with commissioning planned for the first half of 2026.
The transaction includes a 12-year PPA agreement with a multinational corporation, covering a significant portion of the electricity produced by the wind farm.
The project complies with the social and environmental sustainability performance standards of the International Finance Corporation (IFC), a member of the World Bank Group. The wind farm's annual energy production is approximately 312 GWh, covering the annual electricity consumption of 51,000 households and contributing to a reduction of about 150,000 tons of CO2 emissions per year.
Once operational, OX2 will be responsible for the technical and commercial management of the project, overseeing operations, and optimizing production.
OX2 is also in the process of selling another similarly sized wind project in the same region of eastern Romania, with the transaction expected to close by the end of the year.
OX2 is a renewable energy developer that entered the Romanian market in 2021. Since then, the company has formed a local team and expanded its portfolio to five onshore wind projects with a total capacity of 620 MW. OX2's strategy in Romania focuses on growth and diversification in renewable energy technologies, including wind, photovoltaic, storage, and hydrogen.
