Octopus Renewables has acquired two onshore wind farms in Poland on behalf of Octopus Renewables Infrastructure Trust plc.
The Krzecin and Kuslin wind farms have been acquired from the PNE Group, who will continue to provide construction services for the projects which are expected to reach full operations in late 2021 and mid-2022, respectively. The total capacity of the two sites will be approximately 59 MW, and both projects were awarded fifteen-year tariffs under the Polish Contract for Difference auction in 2019, which will provide attractive revenues once operational.
This acquisition is Octopus Renewables’ second transaction in Poland. Poland’s electricity production is currently dominated by coal, and projects such as these are an important part of the country’s energy transition. Once operational, Octopus Renewables’ Polish assets will provide enough electricity to power around 195,000 homes across the country.
Chris Gaydon, Investment Director at Octopus Renewables, said:
“We are delighted to have completed this acquisition and to have developed a strong relationship with a highly experienced developer. These projects benefit from attractive government-backed fixed revenues, in a market which is set to experience significant growth in renewable capacity over the coming years.”
Markus Lesser, CEO of PNE AG said:
“We are very pleased about this sales success and it shows that our many years of commitment have paid off in this market that is becoming increasingly open regarding clean energies. We also really appreciate the opportunity to continue working with Octopus and to stay involved in the projects in the long run, thanks to our management activities in the operation of the wind farm.”
