04.12.2023,
6428 Zeichen
Dubai, Uae (ots/PRNewswire) - COP28, Expo City Dubai Abu Dhabi Future
Energy Company PJSC – Masdar, the UAE's clean energy powerhouse,
today announced the acquisition of eight hybrid renewable energy
projects, along with Taaleri Energia, a Finnish-based renewable
energy developer and fund manager, marking a significant expansion to
both companies' Polish renewable energy portfolios.
* Agreement marks a significant expansion of Masdar's European
renewable energy portfolio
* Projects in Poland are expected to come online between 2026 and
2030 and will have a total combined capacity of more than 1GW
* Project on eight sites will operate a hybrid of solar
photovoltaic
(PV) and onshore wind to maximize grid allocation
Masdar and Taaleri Energia have purchased the projects from Domrel
Biuro Usług Inwestycyjnych (Domrel), a leading developer in the
Polish renewable energy market specializing in the development of RES
power plants across Poland. They will maintain an ongoing
relationship with Domrel to progress the projects through the
required developmental stages.
Once operational, the eight projects, which include solar
photovoltaic (PV) and onshore wind technologies, will have a combined
capacity of more than 1 gigawatt (GW), enough to supply approximately
223,000 households and offset 1.8 million tonnes of carbon dioxide
each year. They represent a significant expansion in Masdar's growing
European portfolio.
By developing hybrid PV solar and wind projects, Masdar is
capitalizing on recent amendments to the Polish Energy Law, known as
Cable Pooling, which allow for the linking of different renewable
energy sources in a single grid connection.
Solar and wind power rarely operate at full capacity at the same time
due to the intermittent power generation from wind and the sun. Cable
Pooling helps to stabilize renewable energy generation at each
connection, while optimizing the grid to ensure reliable power supply
to homes and businesses across Poland. The amendment, which entered
into force in October 2023, is expected to add approximately 25GW of
renewable capacity in Poland.
The agreement was signed by Masdar Head, Development and Investment
(Europe), Amalia Giannakikou, Taaleri Energia Investment Director,
Stephen Butler and Domrel Business Development Manager, Michał
Wiśniewski.
It was witnessed by the Polish Ambassador to the UAE, His Excellency
Mr Jakub Slawek, the President of the Management Board of Bank
Gospodarstwa Krajowego, Beata Daszyńska-Muzyczka, Masdar Director,
Development & Investment (EMEA), Ahmed Al Awadi, Domrel Development
Chief Executive Officer, Maciej Chmielarski and Taaleri Energia
Managing Director, Kai Rintala.
Masdar Chief Executive Officer Mohamed Jameel Al Ramahi said: "This
bold, progressive step expands our portfolio in Europe and supports
Poland in achieving its climate action goals. We applaud Poland's
recent legislative developments in the renewable and clean energy
sector, which have opened the door for additional renewable capacity
by allowing hybrid solar-wind projects to connect to the grid. As a
global clean energy pioneer, we are proud to be investing in new and
innovative technologies and project structures in Poland and across
Europe which will provide reliable, secure and sustainable energy for
businesses and communities."
This landmark announcement builds on Masdar's existing investments
and commitments in Poland, including the Mlawa Wind Farm, located in
Mazowieckie in the north of the country, and the Grajewo Wind Farm,
located in Podlaskie, in the north-east. The projects were
inaugurated in 2021 and have a combined installed operational
capacity of 51.4MW.
Taaleri Energia Managing Director, Kai Rintala said: "We are
delighted with the acquisition of these eight Polish hybrid renewable
energy projects. Our partnership with Masdar is an extremely valuable
part of our investment strategy in the CEE region. This deal brings
the total number of development projects in our SolarWind III Fund
portfolio to 61, representing a potential gross generation capacity
of 7.6GW."
Domrel Chief Executive Officer, Maciej Chmielarski, said: "We are
very pleased to establish cooperation with partners that are leaders
in their home markets and are also dynamically expanding their
operations beyond them. For us, a key reason for entering into this
strategic collaboration was a shared vision of Poland's future and
common values that bind us as partners with Masdar and Taaleri."
Poland is seeking to increase installed wind capacity to 11GW by 2040
and solar PV to 10-16GW by the same year. Masdar's investments in the
country will support the nation in meeting the ambitious targets set
out in the Energy Policy of Poland, which will have a significant
impact on reducing carbon emissions in the country.
About Masdar
Abu Dhabi Future Energy Company (Masdar) is the UAE's clean energy
champion and one of the fastest growing companies in the world,
advancing the development and deployment of renewable energy and
green hydrogen technologies to address global sustainability
challenges. Established in 2006, Masdar has developed projects in
over 40 countries, helping them to achieve their clean energy
objectives and advance sustainable development. Masdar is jointly
owned by Abu Dhabi National Oil Company (ADNOC), Mubadala Investment
Company (Mubadala), and Abu Dhabi National Energy Company (TAQA), and
under this ownership the company is targeting a renewable energy
portfolio capacity of at least 100 gigawatts (GW) by 2030 and an
annual green hydrogen production capacity of up to 1 million tonnes
by the same year.
About Taaleri Energia
Taaleri Energia is a renewable energy developer and fund manager with
one of the largest dedicated renewables investment teams in Europe,
managing a 9.7GW wind, solar and battery storage portfolio in Europe,
the US and the Middle East.
For more information please visit:
http://www.masdar.ae and connect:
facebook.com/masdar.ae and twitter.com/masdar
This material is distributed by Daniel J. Edelman, Inc. on behalf of
Masdar. Additional information is available at the Department of
Justice, Washington, DC.
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