The heads of investment fund PKO TFI and Polish utility Enea signed a letter of intent to cooperate for the development of renewable energy in Poland.
Investment cooperation in developing the dedicated closed-end investment fund PKO Energia Odnawialna is the main objective of the letter of intent.
Enea plans to engage in the fund, which will invest in shares of portfolio companies that build renewable energy installations and profit from the production and sale of electricity or heat generated from these.
Grzegorz Muszyński, president of the management board of PKO TFI, said: “Investments in renewable energy sources are one of our strategic directions, in line with current market trends and challenges for the energy sector.
“The model of the RES Fund planned by us will not only bring profits to investors, but will also contribute to the dynamization of the energy transformation process in Poland.
“I am very happy that Enea, the vice-leader of the energy production market in Poland, expresses its will to cooperate in this innovative formula.”
President of the management board of Enea Paweł Majewski added: “The Enea Group actively participates in the energy transformation process.
“The concept of involvement in a dedicated RES Fund may expand our investment portfolio in the area of renewable energy sources in a relatively short time.
“The synergy of our entities, based on experience, credibility and competence on both sides, can bring excellent results.”
The fund will strive to achieve its investment objectives by investing funds from payments for certificates made by investors.
Its main objective will be to develop the portfolio of renewable installations and, as a result, to generate revenues from the Fund’s investments, in particular from investments in shares or stocks of Portfolio Companies.
In connection with the signed letter of intent, representatives of PKO TFI, in cooperation with Enea, will proceed to further work and consultations on the establishment of the fund.