Çalık Renewables has acquired a 255MW photovoltaic portfolio in Poland from PAD RES Group.
PAD RES Group, which is majority-owned by a joint venture between Kajima Partnerships and Griffin Capital Partners, said the sale marks Çalık Renewables’ first renewable energy investment in Poland and lifts the buyer’s international installed renewable capacity to more than 400MW.
The assets comprise the fully operational Sztum and Stargard projects in the Pomeranian and West Pomeranian regions, which together generate more than 270,000MWh a year.
PAD RES Group added that it will continue to provide asset management services for the sold projects and has also entered into a cooperation agreement to develop energy storage and wind farms under a cable pooling model in line with Çalık Renewables’ long-term plans.
General manager of Çalık Renewables Emre Erdoğan said: “Poland is a strategic market that has been underpinning its strong and stable economic growth with a determined energy transition in recent years.”
“This investment by Çalık Renewables clearly demonstrates Çalık Group’s long-term commitment to sustainable economic growth and the green energy transition in Poland,” he added.
Çalık Renewables said the deal builds on its first international investment, the Zatric wind power plant in Kosovo, and aligns with Çalık Group’s sustainability approach and broader activities in Poland, including the construction of a 1.3GW hydrogen-ready combined cycle gas power plant in Kozienice by subsidiary Çalık Enerji.
PAD RES Group chief executive Mariusz Adamczewski said: “The sale of a fully operational portfolio of photovoltaic farms is fully consistent with PAD RES Group’s long-term approach to portfolio development, whose primary objective is to develop a multi-technology renewable energy platform, aligned with the Group’s long-term vision for a future IPP model (PV, wind, biogas and BESS).”
He stated: “This transaction primarily enables us to release capital for further renewable energy investments and, at the same time, diversify our generation assets, working towards a renewables mix that is optimal for today’s and tomorrow’s electricity market.”
Managing director at Kajima Partnerships Chris Gill said: “This transaction reflects Kajima’s commitment to supporting PAD RES Group’s long-term growth and its ambition to become a leading multi-technology renewable energy platform.”
He added: “By recycling capital from operational assets, PAD RES can accelerate the development of new projects, including battery storage and wind, which are critical to Poland’s green energy transition.”
Director at Griffin Capital Partners Jedrzej Socha said: “From an investor’s perspective, it is essential today not only to develop new installations, but also to ensure their efficient operation within the power system and the long-term stability of projects.”
He added: “The model implemented by PAD RES Group – focused on the further development of existing renewable assets through cable pooling and their enhancement with energy storage – allows for more efficient use of existing infrastructure and increases asset value across the entire lifecycle.”