ENERGA to purchase wind farms from EBRD

ENERGA and PGE have signed a contract with the European Bank for Reconstruction and Development to acquire a 25% share in the assets of IBERDROLA Renewables Polska.

The contract signed with EBRD is another step towards the acquisition of shares in IBERDROLA Renewables Polska. In February, ENERGA Hydro and PGE executed an agreement with IBERDROLA Renovables Energía S.A.U. to purchase 75% of the company’s shares.

The transaction was recently approved by the President of the Office of Competition and Consumer Protection (UOKiK). The entire deal is expected to be completed at the end of July, and its total value is estimated at approx. PLN 1.1bn.

After completion of the transaction, ENERGA Group will take over two wind farms operating in northern Poland – Karścino in Zachodniopomorskie Province and Bystra in Pomorskie Province – with a total installed capacity of 114 MW, as well as a project package of ca. 1190 MW. PGE, on the other hand, will take over operating wind farms with installed capacity of 70.5 MW and a project package.

The approval from the President of UOKiK has brought ENERGA Group one step closer to  finalisation of the deal with DONG Energy, a Danish company. After both planned acquisitions, the installed capacity of RES at ENERGA Group will increase from 343 MW to more than 508 MW, and the RES production from 1.3 TWh to approx. 1.65 TWh.

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