Abu Dhabi-based Masdar teams up with Finnish group to buy Polish wind farms

The projects are expected to be completed by the end of this year

  
Image used for illustrative purpose. Wind turbines are erected at the Ashegoda Wind Farm near a village in Mekelle, Tigray, 780 km (485 miles) north of Addis Ababa . Picture taken October 25, 2013. REUTERS/Kumerra Gemechu

Image used for illustrative purpose. Wind turbines are erected at the Ashegoda Wind Farm near a village in Mekelle, Tigray, 780 km (485 miles) north of Addis Ababa . Picture taken October 25, 2013. REUTERS/Kumerra Gemechu

REUTERS/Kumerra Gemechu
Abu Dhabi-based Masdar, one of the world’s leading renewable energy companies, and Taaleri SolarWind II Fund, which invests in utility-scale wind and solar assets, have together acquired 50:50 stakes in two wind farms in Poland.
 
The 37.4 megawatt (MW) Mlawa Wind Farm is located in Mazowieckie in northern Poland and the 14 MW Grajewo Wind Farm is located in Podlaskie, in the north-east.
 
Construction on both these wind farms began in the second quarter of 2020 and the projects are expected to be completed by the end of this year.
 
"As one of the world’s leading renewable energy companies, Masdar is proud to enter into the Polish market, which offers considerable scope for further growth and diversification of our renewable energy portfolio," remarked Ahmed Al Awadi, Director, Business Development & Investment, Clean Energy at Masdar.
 
"We look forward to supporting Poland’s renewable energy efforts, and to further strengthening our partnership with Taaleri Energia," he added.
 
With a combined installed capacity of 51.4 MW, the projects will together produce 192 gigawatt-hours (GWh) of electricity annually. When complete, they will produce enough electricity to supply approximately 90,000 households with their energy needs and will offset 146,000 tonnes of carbon dioxide each year.
 
Taaleri Energia’s Managing Director Kai Rintala said this investment in Polish wind sector together with Masdar is underpinned by the increasing demand for clean energy and by a combination of the Contracts for Difference scheme and the availability of commercial offtake contracts in the Polish market.
 
"It is also another example of the value of our joint venture with Masdar in the CEE region," he added.
 
The projects were developed by Vestas, together with V-Ridium Power Services, which is providing the engineering, procurement and construction (EPC), and technical and commercial management services during the construction and operational phases.
 
Project financing is provided by the European Bank for Reconstruction and Development (EBRD) and DNB Polska.
 
Masdar said the acquisition of these two projects in Poland builds upon the success of its ongoing activities with Taaleri in the Western Balkans.
 
Masdar and Taaleri Energia are partners in the 158 MW ?ibuk 1 wind farm in Serbia, and in the Baynouna Solar Energy Project, a 200 MW solar PV plant in Jordan, which will be the largest in the country, it added.-TradeArabia News Service

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