BayWa r.e. markets 64.4-MWp solar farm in Poland to Alternus Energy

Sep 1, 2021 10:31 AM ET
  • German renewables business BayWa r.e. AG announced that it has actually sold its 64.6-MWp Witnica solar farm in Poland to Ireland-based independent power manufacturer Alternus Energy Group Plc (OSE: ALT).

Financial terms were not disclosed in a news release on Tuesday.

The Witnica plant, located near the German border between Poznan and Berlin, is stated to be Poland's first subsidy-free commercial-scale solar farm, according to BayWa r.e. The solar farm operates under a ten-year power acquisition agreement (PPA) with Gorazdze Concrete SA, the Polish subsidiary of German structure materials firm HeidelbergCement AG (ETR: HEI).

Adhering to the sale, BayWa r.e. will certainly remain with Witnica as the carrier of operations and also maintenance solutions for Alternus Energy, the German firm said.

For Alternus Energy, the purchase represents its main entry into the Polish market.

"We have prepare for additional development within the nation over the following 12 months and also hope to share updates on that soon," Vincent Browne, chairman as well as CEO of Alternus Energy, stated.

"The sale to Alternus Energy lines up well with our goal of creating as well as offering added solar capacity in Poland in future years and also more highlights the good looks of renewable resource possessions to investors," included Benedikt Ortmann, global director of solar projects at BayWa r.e.

BayWa r.e. claims it boasts a solar farm pipe of 600 MWp across Poland. The business has established an objective to create 1.1 GW in the country over the following five years.

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