- Swedish renewables developer OX2 AB has clinched a deal to sell a 99.2-MW wind project in Romania to Nala Renewables.
- Nala Renewables is a 50/50 joint venture between funds managed by the global investment manager.
Swedish renewables developer OX2 AB has clinched a deal to sell a 99.2-MW wind project in Romania to Nala Renewables, enabling the British green energy developer further to expand its business in Central and Eastern Europe.
The transaction is worth SEK 2.48 billion (USD 73.5m/EUR 67.1m). The price includes both the acquisition and construction of the wind park, which OX2 will handle. The Swedish firm will also manage the future power plant’s technical and commercial aspects.
The agreement-covered project is located in eastern Romania and envisages the installation of 16 turbines of Vestas Wind Systems’ V162-6.2 MW. Grid access has been arranged with transmission system operator Transelectrica, and construction is anticipated to start in the third quarter. The plant’s commissioning is scheduled for the first half of 2026.
Along with signing the sale agreement, OX2’s first deal in Romania, the partners have sealed a 12-year power purchase agreement (PPA) with a multinational corporate off-taker for “a significant part” of the wind farm’s future output. The plant’s entire generation is expected to be around 312 GWh or enough to cover the annual demand of about 51,000 homes.
Nala Renewables is a 50/50 joint venture between funds managed by global investment manager IFM Investors and Singapore-based commodities trader Trafigura Group Pte Ltd. It said separately that funds for the purchase will come from debt financing provided by Erste Group.
OX2 has been active in Romania since 2021 and has a 620-MW portfolio comprising five onshore wind projects. The company said it is in the process of divesting another wind project in the Balkan country later this year.