IBC SOLAR sells 120 MW of solar projects in Poland

A division of German photovoltaics specialist IBC Solar AG has agreed to sell the rights to two solar photovoltaic (PV) projects with a combined capacity of 120 MW in Poland to Israeli energy company Afcon Renewable Energy.

The two projects, located in western Poland, are in the advanced development stage, IBC SOLAR said on Thursday. The schemes will be developed to the ready-to-build stage by Afcon Renewable Energy with the help of local entrepreneurs.

“The signing of the contract is the kick-off of our joint project activities with Afcon, which may be extended to other countries as well,” said IBC SOLAR's chief sales officer Patrik Danz.

The sale is part of IBC SOLAR's expansion plans in Poland where the company sees promising growth prospects considering the Polish government's target of more than 30% electricity production from renewables by 2030.

In Poland, the German company has a project development portfolio of more than 600 MW and it is set to grow further. To support its growth strategy in the country and raise its local capabilities, the German developer has recently launched a new subsidiary in Poland.

Afcon Renewable Energy is a subsidiary of Israel-based construction engineering company Afcon Holdings.

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