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The portfolio, developed and constructed by ReneSola Power, consists of 16 turnkey solar farms equipped with bifacial solar panels and a total installed capacity of 16 MW. Each solar farm has a capacity of 1 MW, Modus Group, a business group engaged in investment management in automotive, renewable energy, vehicle sharing and other business areas, said.

All of the projects acquired by Modus Asset Management have been awarded a 15-year contract-for-difference (“CfD”) support mechanism in Poland, ensuring stability of revenue for the projects.

Modus Asset Management acquired the portfolio through its investment vehicle Modus Poland Solar Fund I.

Modus Asset Management is the only specialized manager of renewables investment funds in the region. It currently manages two investment funds investing in solar energy projects in Lithuania and Poland.

In 2021, the company plans to set up two new funds that will pursue an investment strategy covering renewable energy infrastructure in the Baltic countries, Poland and other Central European countries.