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Enefit Green invests €80 million in wind energy projects in Poland

Estonian energy company Enefit Green will acquire development rights for multiple onshore wind projects in Poland. The signed agreement covers eight early-stage onshore wind development projects with a planned total capacity of up to 360 megawatts. 

According to Andres Maasing, a board member of Enefit Green, this is an important milestone for expanding the company’s wind energy portfolio in Poland with a strong and capable developer like RES Global Investment.

“Enefit Green has been for a while looking for ways to grow its renewable energy portfolio in Poland, where the company has been operating since 2019. In the current market situation, finding opportunities for smart and sustainable business growth is key. The signed development service agreement provides a strong wind pipeline and growth opportunities for Enefit Green in Poland to achieve sustainable growth,” commented Maasing.

Enefit Green is the largest wind energy producer in the Baltics and has extensive experience in both operating and developing wind farms, added Maasing. The total estimated investment amount is approximately 80 million euros, which covers the cost of acquiring the project and other development expenses required to reach the “ready to build” phase for all projects within the scope.

“We find this transaction very important as this is the first deal with such an extensive portfolio after the new opening for the wind farm industry in Poland. The transaction is part of our wind portfolio expansion strategy,” said Anna Kosińska, Board Member of RES Global Investment.

“Enefit Green has been for a while looking for ways to grow its renewable energy portfolio in Poland.”
Andres Maasing, a board member of Enefit Green

The construction of these projects is estimated to be in 2028 at the earliest, with the start of operation by 2030. According to current expectations, the completed projects will operate under market conditions or a power purchase arrangement to be entered into at the time of investment decision.

Enefit Green entered the Polish renewable energy market in June 2019 by acquiring solar park development projects with a total capacity of 19 megawatts. In addition, the company has recently finished construction of two additional solar parks. One has been completed, and the other is in the final stage. The company currently has 20 solar parks in Poland with a total capacity of 27 megawatts. Soon, Debnik solar park with a total capacity of 6 megawatts, will also be ready.

Enefit Green is committed to providing environmentally friendly alternatives to conventional energy produced from fossil sources. The company operates in Estonia, Lithuania, Finland, Poland and Latvia. The company has 23 wind parks in Estonia and Lithuania, 42 solar power parks in Estonia and Poland, and a hydroelectric power station and a cogeneration plant in Estonia.

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