Masdar acquires 50% of 51.4 MW Polish wind projects

By Rahul Vaimal, Associate Editor
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One of the world’s leading renewable energy companies, Masdar has acquired a 50 percent share in two wind farms in Poland, further expanding the Abu Dhabi-based firm’s portfolio.

The 37.4-megawatt (MW) Mlawa Wind Farm located in Mazowieckie in northern Poland and the 14 MW Grajewo Wind Farm in Podlaskie in the country’s north-east will be developed in a joint venture with Taaleri SolarWind II Fund, managed by Helsinki-based renewable energy investor Taaleri Energia which is also Masdar’s joint venture partner in central and eastern Europe.

With a combined installed capacity of 51.4 MW, the two projects will together produce 192 gigawatt-hours of electricity per year, which is enough to meet the energy needs of approximately 90,000 households and it will also help to offset 146,000 tonnes of carbon dioxide annually. The work on the wind farms which are currently under construction is expected to be completed by the end of this year.

“As one of the world’s leading renewable energy companies, Masdar is proud to enter into the Polish market, which offers considerable scope for further growth and diversification of our renewable energy portfolio,” Ahmed Al Awadi, director of business development and investment at Masdar’s clean energy arm.

The projects were developed by Vestas, a Danish wind turbine company together with Poland-based V-Ridium Power Services, which is providing engineering, procurement and construction (EPC), and technical and commercial management services during the construction and operational phases. The financing is being provided by the European Bank for Reconstruction and Development (EBRD) and DNB Polska, Masdar added in its statement.

Both Masdar and Taaleri Energia have earlier partnered in the 158 MW Cibuk 1 wind farm in Serbia and in the Baynouna Solar Energy Project, a 200 MW solar PV plant in Jordan, which will be the largest in the country.

Last year, the renewable energy firm acquired stakes in eight projects out of which three are wind farms that are being developed by the EDF Renewables North America unit.