Renewable energy company Masdar and renewables investor Taaleri SolarWind II Fund have inaugurated their jointly owned wind farms in Poland.
Masdar and Taaleri SolarWind II Fund each own a 50% stake in the projects which will produce enough electricity to supply approximately 90,000 households in Poland.
The projects include the 37.4MW Mlawa wind farm in Mazowieckie, northern Poland, and the 14MW Grajewo project, which comprises two wind farms and is based in Podlaskie, in the north-east.
The Polish projects were developed by Vestas, together with EPC manager V-Ridium Power Services, and will be financed by the European Bank for Reconstruction and Development (EBRD), DNB Polska and TFI PZU.
Niall Hannigan, Chief Financial Officer of Masdar, said: “This event marks a key milestone in Poland’s renewable energy journey and demonstrates Masdar’s commitment to the nation’s climate action objectives. We look forward to expanding our presence in the Polish renewable energy sector and to strengthen our strategic partnership with Taaleri Energia through our joint venture, Masdar Taaleri Generation (MTG).”
The inauguration ceremony for the Mlawa and Grajewo wind farms was held at the Polish Pavilion at the Dubai Exhibition Centre, as part of the celebrations for Poland’s National Honor Day at Expo 2020 Dubai.
The event was attended by Peter Ramsay, Chief Executive Officer of Taaleri Group, Niall Hannigan, Chief Financial Officer of Masdar, and Jakub Slawek, Chargé d’Affaires of the Embassy of Poland, along with other senior executives and officials.
“This investment in Polish wind is underpinned by the increasing demand for clean energy and by a combination of the Contracts for Difference scheme and the availability of commercial offtake contracts in the Polish market. It also further demonstrates the value of our joint venture with Masdar,” said Taaleri Energia’s Managing Director, Kai Rintala.
Masdar and Taaleri, through MTG, are collaborating on a number of projects across Europe, with Masdar and Taaleri Energia announcing an agreement in May this year to co-develop a 65MW solar photovoltaic power plant in Greece.