June 27 (Renewables Now) - A trio led by Sun Investment Group (SIG) plans to build 250 MWp of solar parks in Poland, starting with a roughly EUR-40-million (USD 46.5m) investment.
SIG has teamed up with E-Energija Group of Lithuania and Spanish firm I+D Energias to realise a newly acquired portfolio of solar projects with a combined capacity of 42 MWp. These projects have secured contracts for difference (CfDs) with a term of 15 years, which is one of the main reasons why SIG has decided to invest in the country, it said in a statement.
“Poland is still a niche market, but we see it as an opportunity to grow our business from medium-sized to a big player. We see our future in Poland as a long-term investor,” said Andrius Terskovas, managing partner at SIG.
SIG’s goal is to expand its Polish portfolio to 250 MWp by the end of 2020, in order to help the country meet the EU requirement for 20% of total power to come from renewables by the end of this decade.
(EUR 1.0 = USD 1.162)