The transacted portfolio developed by R.POWER consists of 130 state of the art individual projects with a total installed capacity of 122 MWp. 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 centre of the country.
The solar power parks are equipped with the modern technological solutions enabling production of around 134,000 MWh of electricity annually, which will ensure supply for over 54,000 households and will contribute to the reduction of carbon dioxide emissions by nearly 106,000 tons each year.
Dominic Helmsley, Head of Economic Infrastructure at Aberdeen Standard Investments, comments: “Following our strategy to acquire and manage premium infrastructure assets in Europe, this will be our sixth investment in the Polish renewable infrastructure market, strengthening our position as the leading investor in the Polish solar PV market. We are thrilled for the opportunity to play an active role in the growth of renewable energy in Poland, in particular the solar PV sector, which is underpinned by a supportive regulatory framework. R.POWER and Aberdeen Standard Investments have worked together to conclude a transaction that benefits all parties and look forward to expanding our cooperation in the future. ”
Przemek Pieta, Chief Executive Officer of R.POWER, added: “We are very happy that we have executed largest ever solar transaction in Poland with ASI. It is our third transaction with ASI in the Polish market, which total 168 MWp in solar PV capacity. It demonstrates that Poland has become an important part of the solar landscape in the EU with close to 2,0 GWp, and highest growth in Europe.”
ASI is a leading global asset manager with over 1,000 investment professionals managing £486.5 billion (as at 31 December 2019) of assets worldwide. The acquisition of R.POWER’s projects is ASI’s sixth investment in the solar PV sector in Poland. The company’s Economic Infrastructure programme focuses on investing in core infrastructure assets in Europe, and already holds eleven other assets including: a gas distribution business in Finland, a portfolio of hydro-electric plants in Norway, four rolling stock assets in the UK, a stake in an offshore gas transmission pipeline in the Netherlands, stakes in two district heating businesses in Finland, and refined hydrocarbon storage assets in Germany and the UK.
R.POWER is the largest company in the photovoltaic sector in Poland. In recent years, it has won solar auctions for a total installed capacity of almost 300 MWp. In Poland alone, the company is developing a portfolio of PV power plants of over 1000 MWp. Abroad, R.POWER has been developing solar projects in Portugal, Italy and Spain. R.POWER operates in the entire value chain on the PV market, developing solar projects, as well as providing management, operation and maintenance (O&M) services for solar farms via its affiliated company – NOMAD Electric Services.