Masdar acquires stake in Poland wind projects

Masdar, along with Taaleri SolarWind II Fund, have acquired stakes in two wind farms in Poland with combined total capacity of 51.4MW

 

Abu Dhabi-based Masdar and Taaleri SolarWind II Fund have acquired stakes in two wind farms in Poland.

The 37.4MW Mlawa wind farm is located in Mazowieckie, northern Poland, and the 14MW Grajewo Wind Farm is located in Podlaskie, in the north-east.

Construction on both wind farms began in the second quarter of this year and the projects are expected to be completed by the end of 2021. Masdar and the Taaleri fund will each hold a 50 per cent stake in both projects.

The projects will produce a combined total of 192 gigawatt-hours (GWh) of electricity a year, and will be able to supply enough electricity to supply 90,000 households with their energy needs. This is expected to offset 146,000 tonnes of carbon dioxide a 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," Ahmed Al-Awadi, Director, Business Development & Investment, Clean Energy at Masdar, was quoted in a released statement about the acquisition. "We look forward to supporting Poland’s renewable energy efforts, and to further strengthening our partnership with Taaleri Energia."

The projects were being developed by Vestas and V-Ridium Power Services, which was providing the engineering, procurement and construction (EPC) services for the scheme.

The European Bank for Reconstruction and Development (EBRD) and DNB Polska are providing financing for the projects.

Masdar and Taaleri have previously partnered together for the 158MW Cibuk 1 wind farm in Serbia and the 200MW Baynouna PV plant in Jordan.