Jul 31, 2023
Iberdrola has moved forward with its international expansion by completing the purchase of two onshore wind farms in Poland, owned by Greenvolt Power, a subsidiary of Greenvolt Group. The projects are anticipated to come into operation in the second half of the year, with a combined capacity 50-megawatts (MW), producing enough electricity to power 50,000 homes in Poland per year.
The projects have been purchased from the Polish company Augusta Energy, owned 50% by Greenvolt Group and 50% by K-Gal. T-Mobile has already agreed a 15-year contract, indexed to inflation, to purchase the clean energy produced by the wind farms.
Poland, a growth market
Poland, A-rated by the S&P ratings agency, is one of the largest renewable energy markets in the European Union with strong growth in electricity consumption and a commitment to replace coal as the main source of generation, which currently accounts for 71% of the current generation mix.
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Iberdrola plans to have 1,000 MW of wind and solar PV capacity in operation by 2030 in Poland. The first step in the strategy was the acquisition of 2 onshore wind farms now in operation (Korytnica 1 and Zopowy) in 2021, with a total capacity of 112.5 MW, and an extension project (Korytnica 2) with 50.4 MW, which is now operational. With the completed purchase today, the company now has a capacity of 212.8 MW.
Additionally, more than 2,000 MW of Solar PV and onshore wind projects are currently being developed, which are scheduled to be operational between 2025 and 2030.
Since Poland is one of the main markets for the Greenvolt Group in the development of its strategy of promoting, developing, and building large-scale wind and solar projects. Currently, of the 6.9 GW pipeline 2.9 GW will be at least at ready-to-build stage by the end of the year and a total of 3.4 GW are located in Poland.
Alongside the development of large-scale wind and solar photovoltaic projects in several European and American markets, the Greenvolt Group is also present in the strategic segment of distributed generation, operating in the business and residential segments in six geographies. In the production of energy from residual biomass, it operates in Portugal and the United Kingdom.