Masdar’s European Presence Grows as it Acquires 1GW Renewable Portfolio in Poland

In a groundbreaking move towards bolstering its European foothold, Masdar, in partnership with Taaleri Energia, announced the acquisition of eight hybrid renewable energy projects in Poland. The collaboration marks a substantial upsurge in both entities’ portfolios within the Polish renewable energy sector.

The acquisition, completed in conjunction with Taaleri Energia, a Finnish renewable energy developer and fund manager, involves the procurement of these projects from Domrel Biuro Usług Inwestycyjnych (Domrel), a leading player in Poland’s renewable energy market. The projects, consisting of solar photovoltaic (PV) and onshore wind technologies, are estimated to produce over 1 gigawatt (GW) of combined capacity, capable of powering approximately 223,000 households and offsetting 1.8 million tonnes of carbon dioxide annually.

Masdar’s strategic move aligns with recent amendments to the Polish Energy Law, enabling the amalgamation of various renewable energy sources through Cable Pooling. This legislative change, effective since October 2023, anticipates an addition of about 25GW of renewable capacity in Poland, optimizing grid connections to ensure steady power supplies for homes and businesses.

The signing ceremony, attended by dignitaries including the Polish Ambassador to the UAE, His Excellency Mr. Jakub Slawek, witnessed the formalization of the agreement by key representatives from Masdar, Taaleri Energia, and Domrel.

Mohamed Jameel Al Ramahi, CEO of Masdar, emphasized the company’s commitment to advancing Poland’s climate action goals through innovative clean energy initiatives. He highlighted the significance of investing in pioneering technologies to facilitate sustainable energy provisions across Europe.

This significant milestone builds upon Masdar’s prior investments in Poland, exemplified by the operational Mlawa and Grajewo Wind Farms, together boasting an installed capacity of 51.4MW.

Kai Rintala, Managing Director of Taaleri Energia, expressed delight at the acquisition, underscoring its role in fortifying their investment strategy in the Central and Eastern European (CEE) region.

Maciej Chmielarski, CEO of Domrel, lauded the partnership, citing a shared vision for Poland’s future and a collective commitment to common values in clean energy proliferation.

Masdar’s investments in Poland align with the country’s ambitious targets outlined in the Energy Policy, aiming to substantially increase wind and solar PV capacities by 2040, ultimately reducing carbon emissions significantly.

The collaborative efforts between Masdar and Taaleri Energia signal a landmark step in leveraging renewable energy solutions to meet Poland’s energy demands while substantially contributing to global sustainability endeavors.