Enefit Green to invest €80 million in wind power in Poland
Enefit Green will acquire development rights for several onshore wind projects in Poland. The signed agreement covers eight separate early-phase onshore wind development projects with a planned total capacity of up to 360 megawatts.
The estimated investment totals approximately €80 million, the company announced. This amount includes the acquisition costs of the projects and other development expenses necessary to prepare the projects for construction readiness.
According to Andres Maasing, a board member of Enefit Green, this is an important milestone for expanding the company's wind energy portfolio in Poland in partnership with a strong company like RES Global Investment.
"Enefit Green has been seeking opportunities to grow our renewable energy portfolio in Poland, where we have been active since 2019. In the current market situation, it is crucial to find opportunities for smart and sustainable business growth. The signed agreement provides Enefit Green with a strong wind energy development portfolio and opportunities for sustainable growth in the future," Maasing commented.
Maasing added that Enefit Green is the largest wind energy producer in the Baltic region, with extensive experience in both operating and developing wind farms.
Construction of the planned wind farms will not begin until 2028. Current expectations are that the wind farms will start selling electricity to the market or based on a power purchase agreement to be signed at the time of the final investment decision.
Enefit Green entered the Polish renewable energy market in June 2019 by acquiring solar park development projects with a total capacity of 19 megawatts. The company has also started the construction of two solar parks; one has been completed, and the other is in its final stages. The company operates 20 solar parks in Poland with a total capacity of 27 megawatts and is nearing completion of the 6-megawatt Debnik solar park.
Enefit Green operates wind farms in Estonia and Lithuania, solar parks in Estonia and Poland, a cogeneration plant in Estonia that uses municipal waste as fuel and a hydroelectric power station in Estonia. Additionally, the company is developing several wind and solar parks in the aforementioned countries, as well as in Latvia and Finland. The volume of the company's assets in operation exceeds 500 megawatts, and those under construction exceed 700 megawatts.
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Editor: Marcus Turovski
