The European Bank for Reconstruction and Development (EBRD) has announced an €85m equity investment in Virya Energy Poland, a newly established renewable energy platform.
Virya’s platform will construct and operate utility-scale renewable energy projects in the country. The pipeline includes Sidlowo and Kikowo II – Poland’s largest solar PV cluster expected to generate 666GWh of clean energy annually. At the back of the transaction, Virya Renewables Poland will acquire project rights currently held by Optima Wind, a developer.
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“This transaction demonstrates both the depth of opportunity in Poland’s energy transition and the continued appetite for high-quality, scalable investments in the country”, commented EBRD’s head of Poland and the Baltic States Andreea Moraru.
10% of Belgium-based Virya Energy’s current installed renewable energy capacity is in Poland. By 2034, the company says it will target 4.3GW of global capacity.
“The energy transition must be an enabler and stabilizing factor in a fast-changing world. Navigating it alongside trusted partners such as EBRD and Optima Wind brings us closer to that goal”, said Virya Energy’s chief executive Paul Tummers.
EBRD’s interest in the project was bolstered by its contribution towards reducing Poland and the EU’s fossil fuel dependence. EBRD has thus far invested over €16.6bn in Poland, with 20% of its current portfolio allocated to sustainable infrastructure.
“In a world of increased focus on energy security and resilience, we are very pleased to support Virya Energy as an investor with a long-term investment horizon, and excited to partner with an experienced developer such as Optima Wind in adding much needed renewable generation capacity in the country”, said Grzegorz Zieliński, EBRD’s head of energy for Europe.
