Masdar Fortifies European Presence with Acquisition of 1GW Renewable Portfolio in Poland

Masdar buys 1GW Renewable Portfolio in Poland

Abu Dhabi Future Energy Company – Masdar, in collaboration with Taaleri Energia, has finalized the acquisition of eight hybrid renewable energy projects in Poland, marking a substantial expansion in their European renewable energy portfolios.

The acquisition from Domrel Biuro Usług Inwestycyjnych (Domrel), a developer in Poland’s renewable energy market, will witness collaboration to advance these projects through various developmental stages.

Upon completion, the eight projects, encompassing solar photovoltaic (PV) and onshore wind technologies, will collectively yield over 1 gigawatt (GW) of capacity, catering to approximately 223,000 households and mitigating 1.8 million tonnes of carbon dioxide annually. This significant addition reinforces Masdar’s growing presence in the European renewable energy landscape.

Capitalizing on recent amendments to the Polish Energy Law, known as Cable Pooling, Masdar aims to harness the synergy of hybrid PV solar and wind projects. This novel approach enables the integration of different renewable energy sources through a single grid connection.

This innovation facilitates the stabilization of renewable energy generation, ensuring consistent power supply to homes and businesses across Poland. The legislative amendment, effective since October 2023, is poised to augment Poland’s renewable capacity by approximately 25GW.

The signing ceremony, attended by eminent dignitaries including the Polish Ambassador to the UAE, witnessed the participation of key figures from Masdar, Taaleri Energia, and Domrel, affirming the strategic alliance for propelling Poland’s sustainable energy goals forward.

Masdar CEO Mohamed Jameel Al Ramahi expressed, “This momentous step reflects our commitment to Europe and Poland’s climate aspirations. We commend Poland’s progressive legislative reforms that incentivize hybrid solar-wind projects. As a global clean energy advocate, we’re proud to invest in pioneering technologies that ensure sustainable energy for businesses and communities in Poland and across Europe.”

This landmark acquisition supplements Masdar’s existing investments in Poland, including the Mlawa Wind Farm and the Grajewo Wind Farm, operational since 2021, boasting a combined operational capacity of 51.4MW.

Kai Rintala, Managing Director of Taaleri Energia, emphasized the strategic significance of this acquisition, stating, “The addition of these eight projects strengthens our commitment to the Central and Eastern European region. This collaboration, a pivotal part of our SolarWind III Fund, augments our portfolio to encompass 61 projects with a gross generation capacity of 7.6GW.”

Maciej Chmielarski, CEO of Domrel, highlighted the mutual vision shared among the partners, emphasizing the shared commitment toward Poland’s future and their collective dedication to sustainable energy development.

As Poland seeks to expand its wind and solar capacities significantly by 2040, Masdar’s investments align with the nation’s ambitious Energy Policy, poised to play a pivotal role in reducing carbon emissions and shaping a sustainable future for the country.