Poland's race to meet EU renewables target helps drive demand for PV in the country, investor claims. Source: Getty
A consortium of investors have purchased the project rights for 42MW of capacity awarded in the country’s contracts for difference (CfDs) scheme.
Sun Investment Group, E-Energija Group and I+D Energias will invest around €40 million (US$46 million) to build the projects.
The CfD auction set guaranteed strike prices of between 5.2 and 10.7 US cents per kWh.
“An investor who wins the auction knows the price that will be paid for the energy produced by his plant, and this price will remain stable for 15 years,” said Deividas Varabauskas, CEO, Sun Investment Group.
Sun Investment is now looking to grow its portfolio in Poland to 250MW by 2020.
“Poland is still a niche market, but we see it as an opportunity to grow our business from medium-sized to a big player,” said Andrius Terskovas, managing partner, Sun Investment Group. “We see our future in Poland as a long-term investor. It requires a lot of work to create an attractive portfolio because the market is still quite segmented, but for us, the risk is spread out as we will be taking on the development of many smaller projects.”
The company also stressed that it considers Poland’s slow progress in meeting its EU mandated renewable energy targets as a key consideration.
Jun 15 - Jun 16, 2021
Looking at the drivers and dynamics of utility scale solar in the UK & Ireland over the next five years. This event will consider the immediate challenges as we enter the build phase in both these markets where we could see as much as 4GW deployed in 2021 alone! What developments will continue the growth of 100MW+ sites and what impact will government policy have on the rate of deployment in both markets?Join leading developers and manufacturers shaping the direction of one of Europe’s most active markets and hear from speakers with a history of influencing innovation and change.
Feb 03 - Feb 04, 2021
The business of solar is changing, as the industry scales up, technology, IT and new players to the market will add complexity. This sparks a host of opportunities such as co-location of solar and storage and the rise of unsubsidised solar projects as well as challenges which will question the very business model of European solar asset owners. Solar Finance & Investment Europe is the meeting place for institutional investors, sovereign wealth funds, solar, wind and storage funds and large energy buyers to do business.