Modus Group Solar Power parks in Poland has been acquired by the Leading Global Asset Manager
Modus Group has concluded a sales transaction for solar power parks in Poland. It was acquired by the leading global asset manager Aberdeen Standard Investments SL Capital Infrastructure II fund (“SLCI II”). The portfolio consists of 49 solar power parks with a total power of 45.4 megawatts (MW). According to data available to the company, it is the biggest transaction for solar power parks in Poland so far. On agreement between the parties, the value of the transaction is not disclosed.
“We are one of the biggest developers of solar power parks in Poland. We have invested over 45 million euros in projects of this type in neighboring 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”, – said Ruslanas Sklepovičius, the Board Member of Modus Group responsible for the area of renewable energy.
Construction of the solar power parks in Poland was completed this year. These projects were developed by Green Genius, a company owned by Modus Group. It was responsible for technical solutions, construction, financing and operation of the projects. Highest-quality equipment and technological solutions, enabling the production of green energy for many years, are used in the projects.
“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”, Dominic Helmsley, Head of Economic Infrastructure at Aberdeen Standard Investments, said.
According to R. Sklepovičius, Modus Group is continuously searching for opportunities to invest in solar power projects throughout Europe due to the increasing demand for green energy. “Poland remains one of the most attractive markets for us to develop solar power projects because of its size and the potential for development in the area of renewable energy. Green Genius is also actively developing projects in solar energy sector other European countries as well: Spain, Italy, Lithuania and Ukraine”, he said.
The investments of Modus Group companies in various areas of activity in Lithuania and abroad increased 4 times last year and amounted to 64.73 million euros. Most investments were made in energy projects – 50.34 million euros. The company is planing to maintain its highest focus on development of renewable energy projects.
Aberdeen Standard Investments is the leading global asset manager, managing assets with a value of over 560 billion euros.