POLAND KGAL invests more in Polish green energy

KGAL ESPF 5 will hold a majority stake in the joint venture, while Lasuno will be responsible for the development and management of the projects. Under the arrangement, four solar parks with a total capacity of more than 200 MW should be developed by the end of 2025. The project pipeline is expected to be expanded in subsequent years.

With KGAL we have found a financially strong partner that is already successfully driving similar joint ventures in the solar and wind sectors in several European countries.
Wojciech Kawecki, the founder and managing director of Lasuno

This is KGAL ESPF 5’s fourth platform investment, following similar deals in Germany, Italy and Spain. Another transaction is expected this year. In March, it was announced that KGAL Investment Management had signed long-term power purchase agreements (PPAs) with Lafarge Cement Polska related to the Krasin and Rywałd onshore wind farms (both in northern Poland), which are owned by the KGAL ESPF 4 renewable energy fund.

According to KGAL, the proportion of lignite and hard coal used in electricity generation in Poland is now falling from the current level of more than 70 pct, while the solar PV market is growing faster than in almost any other European country, with capacity increasing from just 0.2 GW to 10.7 GW in the last six years.