Ignitis Renewables has acquired a second wind farm in Poland with a total capacity of 50MW.
Ignitis Group management board has given its approval and so Ignitis Renewables concluded an agreement to acquire 100% of the shares of an undisclosed Polish company that is developing the unnamed project.
Total preliminary investments, including the acquisition and construction price, amount to €70m.
The project is in an advanced stage of development and has received a construction permit and was awarded a contract for difference tariff of around €51/megawatt-hour in the Polish renewable energy auction.
The estimated commercial operations date of the wind farm is around 2023.
Ignitis Group chief executive Darius Maikstenas said: “The group maintains its focus as Poland remains one of the priority markets where we are monitoring green generation developers and are looking for attractive investment projects.
“We are excited about Pomerania wind farm that was successfully completed recently and have no doubts about the success of our second wind farm in Poland.”
In Poland the group currently owns a wind farm in Pomerania, with a total capacity of 94MW, and is developing a 250MW solar power plant portfolio.