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Poland

Poland

Chinese investment fund backs Polish projects

CHINA: China-CEE Fund and Enlight Renewable Energy will invest up to PLN 1.3 billion (€309 million) to develop wind farms in Poland, totalling 250MW.

The project will use Vestas V90 turbines
The project will use Vestas V90 turbines

The China-CEE and Enlight joint venture will buy into two wind projects – Wróblew and Project 2 – developed by GEO Renewables, which will remain minority stakeholder.

The 36MW Wróblew project is scheduled to come online in November this year. The 214MW Project 2, in eventual capacity, is proceeding in stages, with the first stage to go online by the end of 2015.

It deal comes after CEE Equity Partners, which manages the China-CEE Fund, said in July 2014 that it had $500 million (€773 million) to invest in Central and Eastern Europe in next two to three years.

The projects will use Vestas V90 turbines.

Following that announcement, also in July this year, the company bought a 16 per cent stake in Poland Energy Partners (PEP), Poland's biggest private utility, for PLN 240 million (€57 million).

CEE Equity Partners is an investment vehicle created by the Export-Import Bank of China in partnership with state-backed financial institutions from CEE to invest in the region.

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