Masdar and Finnish-based Taaleri Energia have acquired eight hybrid renewable energy projects with a combined capacity of 1GW in Poland.
The pair have purchased the schemes from Domrel Biuro Usług Inwestycyjnych (Domrel), a developer in the Polish renewable energy market specialising in the development of RES power plants across Poland.
Once operational, the eight projects, which include solar and onshore wind, are expected to be enough to supply approximately 223,000 households and offset 1.8m tonnes of carbon dioxide each year.
They will maintain an ongoing relationship with Domrel to progress the projects through the required developmental stages.
The sites represent a significant expansion in Masdar’s growing European portfolio.
By developing hybrid PV solar and wind projects, Masdar said it 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 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 came into force in October 2023, is expected to add approximately 25GW of renewable capacity in the country.
Masdar chief executive 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."
Taaleri Energia managing director Kai Rintala added: "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."
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