The portfolio was developed and constructed by Green Genius and consists of 41 state of the art individual projects with a total installed capacity of 40.4 MW. All of the projects have been awarded a 15 year contract-for-difference (“CfD”) support mechanism ensuring stability of electricity pricing for the projects. The portfolio is entirely located in Poland, predominantly in the west and north-west of the country. On agreement between the parties, the value of the transaction will not be disclosed.
Dominic Helmsley, Head of Economic Infrastructure, Aberdeen Standard Investments, said: “In July 2019 we made our first investment in the Polish renewable infrastructure market. Over the course of just over a year, our solar PV portfolio in Poland has grown to over 350 MW – which we believe to be the single largest portfolio in the market. We are deeply committed to play an active role in supporting Poland’s transition to a renewable energy future. We are pleased to further expand our cooperation with Green Genius while continuing to invest into premium infrastructure assets in Europe. In particular, we focus on projects which fulfil our robust environmental, social and governance (ESG) criteria, of which the solar PV portfolio in Poland is a prime example.”
It was the second transaction between ASI and Green Genius. In July 2019, ASI acquired a portfolio of 45.4 MW solar PV farms from Green Genius which represented ASI’s first investment in the renewable infrastructure sector in Poland.
Ruslan Sklepovič, CEO of Green Genius and Member of the Board at Modus Group, responsible for the area of renewable energy, added: “During the last few years we have witnessed the rapid growth of the renewable energy sector in Poland and Green Genius is one of the biggest developers in this market. Thanks to our presence for a number of years we have accumulated robust know-how in renewable energy project development and our successful partnership with Aberdeen Standard Investments is proof that Green Genius is a viable partner for leading global companies. Poland remains our key strategic market and we have already begun the construction process for a third portfolio of solar PV farms. We are also in the process of acquiring projects for a fourth portfolio of solar PV farms and preparing for the upcoming renewable energy auction.”