Ecology, Energy, Energy Market, EU – Baltic States, Good for Business, Lithuania, Mergers and take-overs

International Internet Magazine. Baltic States news & analytics Sunday, 21.07.2024, 08:25

Lithuania’s Modus Asset Management fund acquires 16 MW solar PV portfolio in Poland

BC, Vilnius, 09.12.2020.Print version
A fund of Modus Asset Management, a management arm of Lithuania’s Modus Group, has acquired a 100% stake in a 16 MW portfolio of ground mounted solar photovoltaic (PV) farms in Poland from ReneSola Power, a leading global solar project developer, informed LETA/BNS.

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.

Search site