Aberdeen Standard Investments (ASI) and R.POWER have finalised a transaction whereby ASI will acquire a 100% stake in a 122 MWp turnkey portfolio of ground mounted solar photovoltaic farms from R.POWER.
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."
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.
