Aberdeen Standard Investment to Acquire 42 MW of Solar Plants in Poland from Sun Investment Group and E Energija

Acquisition expected to open Polish solar market to internationally-operating asset management companies seeking attractive, state-supported investment opportunities into renewable energy

Sun Investment Group (SIG), Poland’s leading solar energy investment and development management company, and E energija group, a strategic renewables investor, have sold their portfolio of solar energy plants in Poland with a total capacity of 42.37 MW to Aberdeen Standard Investments – a leading European asset management company with assets under management of EUR 650 billion.

Aberdeen Standard Investments has agreed to purchase this fully-developed project portfolio of 43 solar plants across Poland, which are worth approximately 1 MW each and have a CfD feed-in tariff of 15 years.

                               The signing of the share purchase agreement. Credit: Sun Investment Group

Deividas Varabauskas, the founder and CEO of SIG believes that the sale of the portfolio to Aberdeen Standard Investments proves the maturity of the Polish solar market, and positions Poland as a strong environment for investors.

“We are very pleased that SIG has been recognized as a market-leading developer of world-class solar energy projects by Aberdeen Standard Investments,” said Varabauskas. “Their acquisition of our solar portfolio is proof that Poland’s solar energy market is ripe for investment. Since we entered the Polish market in 2017 and decided to invest 40M EUR into solar across the country, we always maintained that we would not sell our Polish assets until a large portfolio or utility company willing to make a large-scale acquisition came in. The recent sale of our assets shows that Poland’s infrastructure and governmental support for solar have made the country a credible location for internationally-operating investors. Looking to the future, we will be developing an additional 600MW of solar installations across Poland.”

 Gediminas Uloza, the CEO of E energija group, added that the agreement with Aberdeen Standard Investments is significant for both E energija and the development of renewables across East-Central Europe.

“This transaction marks yet another highly successful achievement for E energija group,” he said. “We have implemented our goal of making a significant impact on climate change by investing in early-stage renewable energy projects. The project and the experience throughout the investment and development process has strengthened the position of E energija in the Polish renewables market. We are ready to continue our mission towards the development of solar, wind and biomass projects in Lithuania, Poland and Ukraine.”

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ABOUT SUN INVESTMENT GROUP

Sun Investment Group (SIG) was founded in 2011 as an investment management and development company focused on solar energy assets within investment-grade markets. It has extensive experience in developing solar power projects across Poland and the Baltic region. For more information, visit https://suninvestmentgroup.com.

ABOUT E ENERGIJA GROUP

E energija group counts more than 20 years of experience and employs 500 professionals. The group manages companies developing and investing in biomass, photovoltaic and wind projects in Lithuania, Latvia, Ukraine and Poland, with a goal to make a substantial impact on the prevention of climate change. E energija Polska, established in Gdansk in 2015, is a representative of the E energija group in Poland. http://e-energija.lt/en