Airoergy Expands Polish Portfolio with Acquisition of FLUX Wind Project
Airoergy has signed a proposal to acquire 100% of the 7.84 MW FLUX wind farm in Poland for approximately 13.5 million euros, marking its expansion into wind energy.
Airoergy has announced that it has signed a binding proposal to acquire 100% of the rights in the FLUX wind project, an operational and grid-connected wind farm with a capacity of approximately 7.84 megawatts in Poland. Established and connected to the grid in 2015, the facility boasts an operational history of over a decade.
The transaction is valued at approximately 13.5 million euros, equivalent to about 46 million shekels, reflecting a price of roughly 1.725 million euros per installed megawatt on a cash-free and debt-free basis. Airoergy is expected to acquire 100% of the project rights, financed through a combination of senior debt within project finance, equity financing, and the company's own capital.
Financial Projections and Transaction Terms
Based on current company assumptions and forecasts, the project is expected to generate annual revenues of approximately 8.87 million shekels and an annual EBITDA of about 5.32 million shekels during a full year of operation.
The completion of the transaction is subject to securing the required financing, negotiations, and the signing of a final and binding PSPA agreement, which will be contingent upon the approval of the boards of directors of both parties as well as the fulfillment of other customary conditions.
The FLUX project is set to become the first wind project in Airoergy's portfolio, joining its existing solar activity and planned storage operations in Poland. This expansion forms part of the company's strategy to establish an independent and decentralized power producer (IPP) platform in the country that combines wind, solar, and energy storage.
Strategic Expansion in Poland
Signing the proposal to acquire the FLUX project represents another milestone in the implementation of Airoergy's strategy in Poland, centered on building a diversified, multi-technology decentralized power generation and storage platform under a single IPP umbrella.
The company is expanding its operations in Poland from a portfolio currently based primarily on photovoltaic projects into the wind sector, while simultaneously exploring the expansion and diversification of its portfolio by adding a BESS-based storage project.
The combination of solar generation, wind generation, and energy storage is designed to create a more diversified and flexible portfolio for Airoergy, combining technologies with complementary generation profiles and enabling the company to operate as a versatile energy player in the Polish electricity market.
Executive Leadership Insights
Major General (Res.) Yifton Ron-Tal, Chairman of Airoergy's Board of Directors, stated:
"The signing of the proposal to acquire the FLUX project in Poland is another strategic milestone for Airoergy. We are expanding our presence in Poland from an activity based primarily on the solar sector to the wind sector, while concurrently working to add BESS-based storage activity to the portfolio. The company's vision is to build an independent and decentralized power generation platform in Poland that combines complementary generation and storage technologies."
Tal Raz, CEO of Airoergy, added:
"The FLUX project is expected to be the first wind project in our portfolio and illustrates Airoergy's ability to identify, analyze, and advance transactions for acquiring active and income-generating projects in a strategic market like Poland. We continue to implement the strategic plan we presented: moving from the infrastructure and portfolio building phase to the execution, enhancement, and realization phase."
