Polish renewables firm Figene seeks strategic investor, hires advisor

Polish renewable energy company Figene Capital SA has appointed international investment bank DC Advisory to help it find a financial or strategic investor willing to support the firm in developing its project portfolio.

Figene, which is listed on the NewConnect market, is a developer of wind and solar photovoltaic (PV) projects with an existing portfolio of shovel-ready wind schemes totalling 118 MW of potential capacity. The company targets developing a 700-MW-plus renewables portfolio and intends to generate revenue from the sale of electricity through power purchase agreements (PPAs).

The company said in a statement that it plans to use the financial resources obtained from the new investor to finance the construction of its existing projects and to further grow its portfolio.

“The new financial resources which we will secure will allow us to implement our investment plans and develop more RES projects. Given the high value of our asset portfolio, we believe that such an arrangement will be beneficial for both parties,” commented Janusz Petrykowski, president of Figene’s management board.

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