Axpo signs a reference PPA contract for the largest onshore wind farm in Europe operating in Romania. Axpo’s leading position in the Eastern European energy services market has been strengthened by signing a long-term contract for the sale and purchase of electricity (PPA) with the Fântânele-Cogealac-Gradina wind farm of CEZ, part of the energy portfolio held by Macquarie Asset Management in Romania.

The 7-year agreement with CEZ’s onshore wind farm is the largest concluded by Axpo in the region to date and covers over 4 terawatt-hours (TWh) of electricity production. Axpo will cover approximately 50% of CEZ’s total installed capacity of 600 megawatts (MW) of the three wind farms owned and managed by a long-term infrastructure fund of Macquarie Asset Management. The units are located in Dobrogea, next to the Black Sea.

“We are seeing an increasing number of owners of renewable projects looking for price stability and guarantees that will allow them to further develop their renewable energy production”, said Domenico Franceschino, Axpo’s Head of Origination, Western & Eastern Europe. “Given our expertise and know-how in the PPA market and the fact that we are present in the local market and understand what our customers need, Axpo is ideally positioned to further support the growth of renewable energy sources that the energy transition demands it.”

Radu Rat, General Manager of Axpo Energy Romania, added: “This country has great potential for renewable energies in general and wind energy in particular. Contracting PPA is an important stage, both for the Romanian energy market and for Axpo’s activity”.

Ondrej Safar, CEO of CEZ Romania, stressed that the long-term financial agreement contributes directly to the stability and resilience of CEZ’s renewable portfolio. “Being the first of its kind in Romania, it represents a positive signal to the local renewable energy market, which is heading with maximum speed towards the energy transition.”