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International Internet Magazine. Baltic States news & analytics Wednesday, 20.11.2019, 22:45

Enefit Green to buy 20 solar power parks in Poland for EUR 17.3 mln

BC, Riga, 19.06.2019.Print version
Enefit Green, subsidiary of the state-owned Estonian energy group Eesti Energia, has signed a share purchase agreement to acquire 20 solar parks in Poland for 17.3 mln euros, reported LETA/BNS.

The total capacity of the solar power plants to be acquired is 19,15 MW. All 20 solar parks have won support at the 2016 and 2017 renewable energy auctions in Poland, Eesti Energia said.

Altogether nine of the 20 solar parks have already been completed, and the construction of the rest is to be concluded by the fall. In total, the parks will produce 20 GWh of solar power per year, sufficient for powering some 7,000 average-consumption households for a year.

Chairman of the management board of Enefit Green Aavo Karmas said that expanding solar power production is just one part of Enefit Green's strategy and ambitious growth plan.

"We have set an objective to increase the share of solar power in our renewable energy portfolio, and that means implementing projects in Estonia as well as in other markets in the Baltic Sea region in which Eesti Energia is operating. The acquisition of Polish solar parks takes us closer to that goal, and increases the capacity of Enefit Green's current portfolio of solar energy to 26 MW. The investment additionally provides us with a basis for establishing operation capacity in Poland and further implementation of our strategy," Karmas said.

He noted that as Eesti Energia has set an objective to produce 45% of electricity from renewable and alternative sources by 2023, the solar power plants in Poland fully support that goal. 

All of the power produced by the solar parks will be directed to the electricity supply, and Enefit Sp. z o.o, Polish subsidiary of Eesti Energia, will be in charge of energy trading. In the future, the power generated by the solar parks will be sold directly to Eesti Energia's customers in Poland. 

The projects of all the solar parks in question belong to Solaque Holding Ltd, and the entity in charge of the construction and operation of the parks is Geo Solar Sp. z o.o.. Both businesses are owned by the Polish renewable energy developer GEO Group.

Enefit Green is a renewable energy company owned by Eesti Energia, which produces electricity and heat in Estonia, Latvia and Lithuania from wind, water, biomass, biogas, mixed municipal waste and solar power. The company has the most diversified generation portfolio in the Baltic states.

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