GreenVolt turns sod on 59MW Polish renewables

• Portfolio consists of solar projects along with a mixed wind-solar-storage center

GreenVolt has initiated construction of renewables projects in Poland totalling 59MW, dispersed in between wind, solar and also storage.

Both assets are anticipated to be marketed throughout 2023.

The first project, Sompolno, lies in Sompolno (central-western Poland) and has 26MW of wind capacity, 10MW of solar and also 3MW of storage, as well as is intended to be functional in the initial half of 2024.

The 2nd project, Opalenica, is located near Opalenica city (central-western Poland) and also contains three solar parks, with an overall capacity of 20MW.

With the initiation of the construction stage, the anticipated commercial procedure date is to be achieved in the 3rd quarter of 2023.

In both cases, it is GreenVolt's intent to market the assets even before the COD phase, in response to existing market need, but additionally in compliance with the strategic plan provided to Its financiers.

"The decision to build these 2 projects in Poland is completely in line with GreenVolt's method of making the most of the high demand for assets prepared to operate, verifying the capacity of our team to develop projects up until the construction stage and also generate value with our asset rotation technique", stated João Manso Neto, Chief Executive Officer of GreenVolt.

Throughout the third quarter of 2022, through Augusta Energy, a joint venture between its subsidiary V-Ridium Power Team as well as KGAL, GreenVolt signed an arrangement to sell to Iberdrola, for EUR155m, a portfolio of assets incomplete, situated in Poland.

It was the very first set of assets sold by the firm given that going public.