OX2 has signed an agreement to sell the 99.2 MW onshore wind project in Romania to Nala Renewables, a joint venture between IFM Investors and Trafigura, for 214 million euro. OX2 will be responsible for construction, which will start in the third quarter of this year, with commissioning planned for the first half of 2026.
The transaction includes a 12-year PPA with a multinational corporation. The agreement covers a significant portion of the electricity generated by the wind farm.
The project is located in eastern Romania and will consist of 16 Vestas V162-6.2 MW™ Vestas turbines. The project has secured grid access through a connection contract signed with Transelectrica in March 2023.
“By managing the entire project lifecycle, from development to operation, and securing a 12-year PPA (bilateral long-term contract), we are creating tangible and long-term value and making a significant contribution to the energy transition”, said Lăcrămioara Diaconu-Pințea, Country Manager OX2 Romania.
The annual energy production of the wind farm is about 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 commissioned, OX2 will be responsible for the technical and commercial management of the project, overseeing operations and optimizing production.
“This is a flagship transaction for Nala,” said Remy Verot, Chief Operating Officer of Nala Renewables, and “demonstrates our ability to secure contracted assets and take advantage of the growing demand for renewable energy PPAs from multinational organizations.”
OX2 is in the process of selling another wind project of similar size, located in the same region in eastern Romania, and the transaction is expected to close later this year.
Despre OX2
OX2 is a leading renewable energy developer that entered the Romanian market in 2021. Since then, the company has built a local team and increased its portfolio to five onshore wind projects with a total capacity of 620 MW. OX2’s strategy in Romania is to grow and diversify renewable energy technologies – wind, photovoltaic, storage and hydrogen.