Israeli company Nofar Energy is setting up a joint venture with Electrum to initiate, develop, manage and maintain 1250MW of wind and solar in Poland.
The two companies will co-manage the JV, including identifying opportunities for renewable energy in Poland, initiation, development, and acquisition of greenfield and RTB renewable energy projects, and project maintenance.
Nofar Europe will own 80% of the joint corporation and Electrum the remaining 20%.
Electrum chief executive Miroslaw Poplawski said: “The joint venture with Nofar Energy perfectly fits into the implementation of our long-term strategy based on IPP energy and information business formula and focused on co-creating an alternative energy system.
“I’m really impressed by Nofar’s vision, innovative thinking and its extraordinary business success way.”