The mega-rich Australian financial group has announced its acquisition of the 42 MW Kisielice onshore wind farm in Poland.
Located in Warmiab, Masurian Voivodeship, it is GIG’s first investment in Poland. The project has been fully operational since 2014 and consists of 21 Enercon E82 turbines generating enough renewable electricity to power 45,590 homes per year.
Poland now plans to ensure that 21% of all household energy consumed comes from renewable sources by 2030.
Alongside offshore wind and solar, this is creating attractive opportunities for both new and existing onshore wind developments.
Onshore wind is currently Poland’s largest renewable energy source, with 5.7GW of installed capacity. Its first auction for onshore wind was held in November 2018 and a second auction for around 2.5 GW is anticipated in 2019.
GIG has plans to expand its footprint across Europe and recently acquired the Hornamossen onshore wind farm in Sweden and also announced plans to acquire a 40% stake in East Anglia ONE offshore wind farm on the UK coast.
GIG is now active in 11 countries across Europe, and 15 countries globally. Edward Northam, head of GIG in Europe, said: “As we pursue our mission to accelerate the transition to a greener global economy, it’s essential that GIG continues to seek out opportunities in new and growing markets. Poland has significant potential for renewable energy and we are excited to have taken our first steps into this market.”