Sun Investment Group (SIG) recently sold the 42.36 MW Polish solar energy portfolio it shared with E Energija to Aberdeen Standard Investments. After the sale, SIG will continue working towards the reduction of Poland’s carbon footprint by developing a new portfolio worth 600 MW across 1,200 hectares. The installations, to be auctioned off within six to 24 months after completion, are estimated to reduce Poland’s annual carbon footprint by approximately 306,000 tonnes of CO2 per-year; the equivalent of taking approximately 67,000 cars off the road annually. For more information see the IDTechEx report on Energy Harvesting Microwatt to Megawatt 2019-2029.
Since entering the Polish solar energy market at the end of 2017, SIG has become one of the leading photovoltaic (PV) providers in Poland. Its first major step was the signing of strategic agreements with partners E energijas, and Spanish EPC company, I+D Energias, to acquire one of the largest solar energy portfolios in Poland worth a total of 42.36MW.
The first solar plant in SIG’s Polish portfolio to be connected to the grid was in July 2018. SIG then commissioned and switched on a further installations later in the year. In 2019, it connected the remaining installations, thus making it one of the country’s biggest PV providers. Its position attracted the attention of Aberdeen Standard Investments, a leading European investor with global assets worth USD $643 billion, who acquired the portfolio for an undisclosed sum in July 2019.
Following the sale, SIG will continue to consolidate its position within the Polish PV market by constructing new solar installations and expanding its team. During Q3 2019, SIG took the initial steps towards expansion by increasing its team of full-time professionals to over 50 across three different locations in Poland.
SIG’s Business Development Officer, Andrius Terskovas, believes that company’s strategic decision to further expand across Poland could see SIG as the solar energy provider to reduce Poland’s carbon footprint.
“Since we entered the Polish PV market almost two years ago, we endeavoured to position ourselves as an early investor and developer of market-leading solar energy installations,” he remarked. “The recent acquisition of our Polish portfolio will allow us to expand further across Poland via the construction of 600MW of solar plants. Based on our data, we know that our new installations will be able to reduce Poland’s carbon footprint by 306,000 tonnes each year, and significantly contribute to helping the country towards its development of sustainable renewable energy sources.”
Solar energy is undoubtedly gaining momentum across Poland. How it is implemented over the next few years will determine its wider adoption thereafter.
About Sun Investment Group
Sun Investment Group 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. Currently SIG has 109 PV projects in its portfolio under management and construction in Poland. For more information, visit https://suninvestmentgroup.com.