Energy outfit Ignitis has acquired a 170MW portfolio of solar parks in Poland from developer Sun Investment Group.
Under the terms of the agreement Sun Investment Group will develop the portfolio of solar park projects between 2021 and 2023.
Revenues from the assets will be secured by 15-year contracts for difference under the Polish auction mechanism.
Ignitis chief executive and chairman Darius Maikstenas said: “The development of green generation in home markets, amongst which is Poland, is one of the most important priorities of sustainable development at Ignitis Group.
“The agreement on the acquisition of solar power parks in Poland will strengthen the position in the rapidly growing renewable energy market of this country.
“The energy system of our neighbouring country is transforming – dependence on electricity generation from coal is being reduced and turning to green electricity.”
Sun Investment Group CEO Deividas Varabauskas said: “We are glad to have concluded the largest solar park transaction in central Europe this year.
“The agreement with an international energy company Ignitis Group proves that we are significantly contributing to the development of green energy in Europe.
“It also shows that international cooperation can meaningfully impact the progress towards European Green Deal – Zero Pollution and Carbon Neutral in 2050 targets.”
Sun Investment Group has developed and built solar projects in Europe with the capacity of 132MW and is one of the largest developers of solar projects in Poland, also operating in Lithuania, Spain and Italy.
The company is developing over 1GW of PV projects in Europe.