The Naxxar Group, formed by Romanian-capital companies and leading player in the renewable energy sector, is delighted to announce a significant milestone in its journey. Naxxar Renewable Energy Management Holding has entered into a conditional agreement with Polenergia, the largest Polish private energy group, for the sale of a substantial 60% stake in 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 the 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 is 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 would like to thank once more Alessandro Albrighi, founder and CEO of AD Capital Partners, who played a pivotal role in mediating the transaction and provided invaluable strategic advisory services on the seller's side. The contribution of the Naxxar team members including Dana Casandra, Naxxar's Chief of Legal Department and Septimiu Iusan, Project Manager, has been instrumental in ensuring a smooth transaction process. Also, Mu?at & Asocia?ii team headed by Andrei Ormenean as the seller’s legal advisor ensured the successful negotiation and structuring of the agreement. 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. It has experienced a steep growth trajectory since then. 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 plans to be one of the most important developers and employers in the renewables sector in Romania for the long term. It 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 complete our already fast-growing team with new local colleagues,” Mihai Necula added. About Naxxar Renewable Energy Naxxar Renewable Energy is a leading player in the renewable energy sector, dedicated to advancing the carbon-free energy transformation. With a diverse portfolio and a robust pipeline of projects, Naxxar is committed to reshaping the Romanian energy landscape. With 2 GW of projects under pipeline in Romania, Naxxar will become one of the most important developers in Romania and the region, contributing massively at Romania’s renewables target achievement over the longer term and to the development of the local industry and energy market.
Some dinners are eaten. Others are remembered. At Corinthia Grand Hotel du Boulevard, the past few months have unfolded like a quiet culinary opera. One by one, Europe’s most celebrated chefs arrived, took over the kitchen of Boulevard 73 and left behind more than menus; they left stories. Now, on December 4, the curtain falls. […]
HORIZON CITY, a €130 million residential project, is emerging as one of the most solid and forward-thinking developments in the Pipera area—both through its scale and through the modern direction it sets for the new residential standards in the north. Developed across nearly 23,000 sqm, with 699 apartments and 926 parking spaces, the project brings […]
Romania’s National Forest Administration, or Romsilva, announced that it is putting over 16,000 Christmas trees up for sale over the winter in a press release published on Thursday, November 27. The trees can be purchased directly from the offices of the forestry districts. Prices range between RON 17 (EUR 3.3) for a spruce...
Lot 3 Pietroasele–Buzău of Romania's A7 highway, also known as the Moldova highway, was inaugurated on Thursday, November 27. The newly inaugurated segment is 13.9 km long. The A7 connects Romania’s historic regions of Muntenia, the southern part of the country, with Moldova, the eastern part. “We are opening another 13 km of the Moldova Motorway […]
The City Hall of Sinaia, a popular mountain town roughly 120 km north of Bucharest, announced that a new attraction, the alpine coaster on Pârtia Nouă, will officially open on December 1. The installation, located in the ski area near the Sinaia Gondola, features what the authorities say is the longest track of its kind […]
The Romanian national team debuted with a victory in Group A of the Women’s Handball World Championship, organized in the Netherlands and Germany. Romania won 33–24 (13–12) against Croatia in the Ahoy Arena in Rotterdam on Thursday, November 27. The Romanian team dominated the match in the second half, left backer Sorina-Maria Grozav scoring 7 […]
