Asset manager MEAG is acquiring the 21MW Zary wind farm project in the south-west of Poland from Swedish developer OX2.
The wind park, comprising seven Nordex N117 3.0MW turbines, with total heights of 180 metres, will go into operation in spring 2021.
Under the terms of the turnkey construction agreement OX2 will deliver the wind farm ready for operation.
Zary has a 15-year Contract for Difference (CfD), secured at a 2018 government auction, where the wind farm is compensated for any shortfall between the exchange price for electricity and the CfD price it obtains.
Zary is the first wind power deal in Poland for MEAG, asset manager for Munich Re and ERGO.
OX2 chief executive Paul Stormoen said: “Poland is potentially one of Europe’s most important growth markets for wind power and we are excited to start the construction of OX2’s first project in Poland.
“We are looking forward to the partnership with MEAG and to be part of the Polish energy transition and create a more sustainable future.”
MEAG managing director Holger Kerzel added: “We are very happy to have finalised this transaction, and to have collaborated with OX2.
“With the power generated by the Zary wind park, we will be able to save 750,000 tonnes of carbon dioxide by 2050 as compared to the current energy mix in Poland. This project meets our exacting demands on sustainable and commercially successful investments.”
Local contractor PBDI is constructing foundations, roads and the grid connection for Zary.