Macquarie buys one of Europe's largest wind farms

Macquarie will acquire a 600MW onshore wind farm, plus an energy distribution network, electricity and gas supply business, and 22MW of hydropower capacity

CEZ Group's 600MW Fantanele-Cogealac wind farm in Romania was commissioned in 2012

Australian investment firm Macquarie has agreed to acquire one of Europe’s largest operational onshore wind farms from Czech utility CEZ .

Macquarie Infrastructure and Real Assets will acquire the 600MW Fântânele-Cogealac-Gradina  wind farm in south-east Romania subject to final approval of the deal from European antitrust authorities and the Romanian Supreme Council of National Defence.

It is also due to acquire six of CEZ’s other Romanian holdings, including one of the country’s energy distribution networks, an electricity and gas supply business, and 22MW of hydropower projects.

CEZ had listed the portfolio for sale last year in a bid to increase its ability to repay debt, fund new renewable energy projects and provide modern energy services in the Czech Republic and across Europe.

Despite economic uncertainty caused by the coronavirus pandemic, there was a “high level of competition” for the portfolio, CEZ stated.

Fântânele-Cogealac comprises 240 2.5MW GE Renewable Energy turbines and was commissioned in 2012.

CEZ also owns a 35MW onshore wind site in Germany and a 13.6MW onshore project in France, according to Windpower Intelligence, the research and data division of Windpower Monthly.