Aira Energy Acquires Polish Wind Farm Project for $14.7 Million

Israeli renewable energy company Aira Energy announced on Monday it has signed a letter of intent to acquire full ownership of the FLUX wind project in Poland. The project is an operational wind farm with a capacity of approximately 7.84 megawatts, connected to the grid since 2015 and boasting over a decade of operational history.

The deal is valued at approximately 13.5 million euros, equivalent to about 46 million shekels. This price reflects 1.725 million euros per megawatt installed on a debt-free, cash-free basis. Aira Energy plans to finance the acquisition through a combination of senior debt, project finance, equity financing, and its own capital.

Based on current company projections, the FLUX project is expected to generate annual revenues of around 8.87 million shekels and an annual EBITDA of approximately 5.32 million shekels in a full year of operation. The completion of the acquisition is contingent upon securing the necessary financing, negotiating a final binding PSPA agreement, and obtaining board approvals from both parties, along with other customary conditions.

This acquisition marks Aira Energy's first wind project in Poland, complementing its existing solar operations and planned energy storage activities. It aligns with the company's strategy to establish an independent, distributed power producer (IPP) platform in Poland that integrates wind, solar, and storage technologies. The company views Poland as a key market for renewable energy and storage projects, driven by the country's energy transition.

The deal follows Aira Energy's recent private capital raise of approximately 42.7 million shekels and its acquisition of Green-Go, an EPC (Engineering, Procurement, and Construction) company in Israel. Aira Energy is also exploring additional storage projects and strategic partnerships in Europe.