Abu Dhabi, United Arab Emirates, December XX, 2020: Masdar, one of the world’s leading renewable energy companies, and Taaleri SolarWind II Fund, which invests in utility-scale wind and solar assets, have together acquired 50:50 stakes in two wind farms in Poland.
The 37.4 megawatt (MW) Mlawa Wind Farm is located in Mazowieckie in northern Poland and the 14 MW 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.
“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,” said Ahmed Al Awadi, Director, Business Development & Investment, Clean Energy at Masdar. “We look forward to supporting Poland’s renewable energy efforts, and to further strengthening our partnership with Taaleri Energia.”
With a combined installed capacity of 51.4 MW, the projects will together produce 192 gigawatt-hours (GWh) of electricity annually. When complete, they will produce enough electricity to supply approximately 90,000 households with their energy needs and will offset 146,000 tonnes of carbon dioxide each year.
“This investment in Polish wind from the Taaleri SolarWind II fund together with Masdar is underpinned by the increasing demand for clean energy and by a combination of the Contracts for Difference scheme and the availability of commercial offtake contracts in the Polish market. It is also another example of the value of our joint venture with Masdar in the CEE region,” said Taaleri Energia’s Managing Director, Kai Rintala.
The projects were developed by Vestas, together with V-Ridium Power Services, which is providing the engineering, procurement and construction (EPC), and technical and commercial management services during the construction and operational phases.
Project financing is provided by the European Bank for Reconstruction and Development (EBRD) and DNB Polska.
The acquisition of the two projects in Poland builds upon the success of Masdar and Taaleri’s ongoing activities in the Western Balkans. Masdar and Taaleri Energia are partners in the 158 MW Čibuk 1 wind farm in Serbia, and in the Baynouna Solar Energy Project, a 200 MW solar PV plant in Jordan, which will be the largest in the country.
Abu Dhabi’s renewable energy company Masdar is advancing the commercialization and deployment of renewable energy, sustainable urban development and clean technologies to address global sustainability challenges. Wholly owned by Mubadala Investment Company, the strategic investment company of the Government of Abu Dhabi, our mandate is to help maintain the UAE’s leadership in the global energy sector, while supporting the diversification of both its economy and energy sources for the benefit of future generations. Today, Masdar is active in more than 30 countries, including the UAE, Jordan, Saudi Arabia, Mauritania, Egypt, Morocco, the UK, the US, Australia, Spain, Serbia, India, Indonesia, Uzbekistan, and many more.
Tel enquiries in Arabic: +971 2 653 3333
Tel enquiries in English: +971 2 653 6014
For more information please visit: http://www.masdar.ae and connect: facebook.com/masdar.ae and twitter.com/masdar
About Taaleri Energia
Taaleri Energia is a Helsinki based renewable fund manager and developer. With 33 professionals, Taaleri Energia has one of the largest dedicated wind and solar investment teams in Europe and manages a 1.6 GW portfolio of wind and solar assets. Taaleri Energia is ranked by Preqin as one of the most consistent top performing infrastructure fund managers. Taaleri Energia is part of the Taaleri Group, which is listed on the Nasdaq Helsinki stock exchange.
About SolarWind II
The SolarWind II fund invests in utility-scale wind and solar assets. The fund will invest in a diversified portfolio of predominantly ready-to-build assets in Europe (c.80%) and in the US (c.20%). It is estimated that the Taaleri SolarWind II fund will finance approximately 850 MW of renewable energy capacity, which will offset over 1 million tonnes of CO2 annually throughout the 25+ year lifetime of the assets.
The fund’s investors include the European Investment Bank, Ilmarinen Mutual Pension Insurance Company, Varma Mutual Pension Insurance Company, the European Bank for Reconstruction and Development, Taaleri Group, the Taaleri Energia team and a wide range of pension funds, foundations, endowments and family offices.