Alternus Energy Group will purchase further solar farms in Poland, totaling 184MW.
The nationwide projects are either under construction or have already reached their commercial operating dates (COD).
They range in size from 1MW to 10MW, and the most already have offtake agreements supported by the government.
The parks are being purchased by Alternus from regional developer Projekt Solartechnik (PST), a business of the Famur and TDJ groups.
The effective fulfilment of a few prerequisite requirements is required for the transaction to close.
The full 184MW portfolio is anticipated to reach COD by the middle of 2023, with at least 45MW doing so by the end of this calendar year.
Following installation, PST will handle the first operation and maintenance (O&M) tasks for a predetermined minimum time before Uper Energy, a subsidiary of Alternus Energy, assumes responsibility under long-term service agreements.
Upon completion of the contracts, Alternus will invest approximately PLN750 million (about €160 million) for newly built PV solar farms in Poland, with the money coming from lending facilities.
The company now has 88.6MW worth of operational assets in Poland, including the 65MW Witnica park in the northwest of the nation.
Vincent Browne, Alternus Energy chief executive, said: “This partnership with Projekt Solartechnik enables Alternus to further expand our presence in the Polish market, immediately and over time.
“Alternus has been and remains very active in Poland with a target to achieve over 1GW of operational PV solar there in the next few years.
“This transaction further underpins our commitment to Poland and brings our footprint to over 25% of this goal.
“We are currently in discussions with PST for additional projects in support of this goal and look forward to further announcements in due course. We are very comfortable with long term investment in Poland.”
Maciej Marcjanik, Projekt Solartechnik chief executive, said: “We are very pleased to partner with Alternus Energy and work together to achieve COD for this portfolio and hopefully additional projects that are under discussion.
“We view this as a strategic partnership facilitating the advancement of our significant pipeline working towards achieving increased energy security and national decarbonisation targets.”