The biggest transaction for solar power parks in Poland has been announced
Aberdeen Standard Investments (ASI), a leading global asset manager, and Modus Group, an international group of companies mostly focused on renewable energy, have reached an agreement for a sales transaction for a portfolio of solar power parks in Poland. As a result, ASI has acquired a portfolio of 49 ground mounted solar farms with a total installed capacity of 45.45 MW. This is ASI’s first investment in the Polish renewable infrastructure market.
According to publicly available data, this is the biggest transaction for solar power parks in Poland to date. By agreement between the parties, the value of the transaction will not be disclosed.
The portfolio developed by Modus Group consists of 49 projects with a total installed capacity of 45.45 MW. All the projects have been awarded a 15-year contracts-for-difference support mechanism ensuring stability of electricity pricing. The portfolio is entirely located in Poland, predominantly in the west and northwest of the country.
The projects were developed by Green Genius, a company owned by Modus Group which also actively develops solar energy projects in other European countries including Spain, Italy, Lithuania and Ukraine. Green Genius is responsible for the technical solutions, construction, financing and operation of the projects.
The acquisition was funded through ASI’s SL Capital Infrastructure II fund and is ASI’s first renewable infrastructure investment in Poland. The company’s economic infrastructure program focuses on investing in core infrastructure assets in Europe and already holds ten other assets including a gas distribution business in Finland, a portfolio of hydroelectric plants in Norway, three rolling-stock assets in the U.K., two stakes in offshore gas transmission pipelines in the Netherlands, a stake in a district heating business in Finland, and refined hydrocarbon storage assets in Germany and the U.K.
Dominic Helmsley, head of economic infrastructure at Aberdeen Standard Investments, said: “Following our strategy to acquire and manage premium infrastructure assets in Europe, this will be our first investment in the Polish infrastructure market. We are thrilled for the opportunity to play an active role in the growth of renewable energy in Poland, in particular the solar PV sector, which is underpinned by a supportive regulatory framework. Modus Group and Aberdeen Standard Investments have worked together to conclude a transaction that benefits all parties, and look forward to expanding our cooperation in the future.”
Ruslan Sklepowicz, the Modus Group board member responsible for renewable energy, said: “Modus Group is continuously searching for opportunities to invest in solar power projects throughout Europe due to the increasing demand for green energy. We have been one of the biggest developers of solar power parks in Poland so far with over €45 million of investment in projects of this type in this country.
“Successful, high-quality projects allowed us to establish a partnership with Aberdeen Standard Investments. We have also agreed to continue cooperation in the future so that the investment fund could acquire the solar energy projects we are developing in Poland and other EU countries.
“We are sure that Poland remains one of the most attractive markets to develop solar power projects because of its size and the potential for development in the area of renewable energy.”
Full article on Pv Magazine website: https://www.pv-magazine.com/press-releases/the-biggest-transaction-for-solar-power-parks-in-poland-has-been-announced/