Nala Renewables, a global power and renewable energy investment platform, has announced the acquisition of a 99.2 MW onshore wind project from OX2. This project, located in eastern Romania, is expected to begin construction in the third quarter of 2024.
This acquisition marks Nala’s third transaction in Central and Eastern Europe (CEE) during 2024, reinforcing its focus on the region, where it has a portfolio exceeding 1.5 GW of renewable energy projects.
The project will feature 16 Vestas V162-6.2 MW™ wind turbines and is scheduled for commissioning in the first half of 2026. It is expected to generate around 312 GW/h of clean energy annually, equivalent to the energy consumption of approximately 51,000 households, and will save around 150,000 tonnes of CO2 emissions per year, contributing to the UN Sustainable Development Goals.
The deal includes a 12-year Power Purchase Agreement (PPA) with a multinational corporate off-taker. Project financing is being provided by Erste Group and its subsidiary Banca Comerciala Româna. Financial terms of the agreements have not been disclosed.