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Alternus Energy Group invests in 184 MW solar park in Poland

International renewable independent power producer Alternus Energy Group signed agreements to acquire an additional 184 megawatts (MW) of photovoltaic in Poland.

The projects, located across the country, are either currently in construction or have already achieved commercial operation date. The parks range in size from 1 to 10 megawatts (MW) and the majority have Government-backed offtake contracts already in place.

Alternus is acquiring the parks from an experienced local developer, Projekt Solartechnik, as the first in an ongoing partnership for the development and installation of PV solar parks in Poland.

“This partnership with Projekt Solartechnik enables Alternus to further expand our presence in the Polish market, immediately and over time,” said Vincent Browne, Chairman and CEO of Alternus Energy. “Alternus has been and remains very active in Poland with a target to achieve over 1 gigawatt (GW) of operational PV solar there in the next few years. This transaction further underpins our commitment to Poland and brings our footprint to over 25 per cent of this goal. We are currently in discussions with PST for additional projects in support of this goal and look forward to further announcements in due course. We are very comfortable with long-term investment in Poland.”

The entire 184 MW portfolio is expected to be operational by mid-2023, with at least 45 MW being ready by the end of November 2022.

Completion of the contracts will see Alternus invest over 160 million euros for new constructed PV solar parks in Poland, to be funded from debt facilities and supporting Poland’s national decarbonisation goals.

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