Enefit Green has signed a co-development agreement for early-stage onshore wind projects in Poland.
After market close yesterday, 11 April 2024, Enefit Green inked a Development Service Agreement with a Polish development company RES Global Investment to acquire 100% of development rights in multiple early-stage onshore wind projects in Poland.
The deal covers eight separate early-stage onshore wind projects with targeted total installed capacity of up to 360MW.
The start of construction of these schemes is estimated to be no sooner than 2028.
According to current expectations the completed sites will operate either under merchant market conditions or a power purchase arrangement to be entered into at the time of investment decision.
Total estimated investments amount to around €80m, which includes the project acquisition cost and other development costs needed to achieve “ready to build” status for all schemes in the scope.
The timing and size of the payments depend on achievement of certain development milestones established in the executed agreement and the relevant grid requirements.