Energy, EU – Baltic States, Investments, Lithuania

"Together with E-Energija, which has a lot of experience in the energy sector, we have set up a joint venture in Poland, and I+D Energias, an experienced Spanish energy project contract company, has joined us. And we have all together acquired 43 solar power projects here (in Poland) with a cumulative capacity of 42.36 MW," it quoted Sun Investment Group CEO Deividas Varabauskas as saying. 

"In Poland, we currently have the largest solar project portfolio with a market share of about 15%," he added.

The Lithuanian and Spanish partners have purchased projects that have secured 15-year CfD tariffs via official public auctions, with plans to invest a total of around 40 million euros in building the solar plants, Varabauskas said. 

BNS has reported that Lithuania's car business, real estate development and energy group Modus Group is set to invest 11 million euros in building 12 new solar power plants in Poland, with plans to invest more than 50 million euros in building over 50 plants in the neighboring country. 

The project is being developed by the group's renewable energy arm, Modus Energy, and electricity generated by the new plants will be sold to Polish power grid operators. 

Modus Energy expects to complete the construction of the first 12 plants by late June, with plans to carry out a total of around 30 projects this year and another 20-plus projects in the future. The power plants would have a cumulative capacity of about 56 MW. 

Modus Energy would hold a share of more than 10% of Poland's total solar energy capacity.