The acquisition expands ERG’s Polish wind portfolio to 118MW
ERG, through its ERG Power Generation has completed acquiring the 100% equity stake in Laszki Wind, the owner of authorisations for a 36MW wind farm in South East Poland, from Polish company Cameonio.
ERG already held an option to acquire the wind farm, which was awarded a feed-in tariff in the last auction for a period of 15 years.
When fully operational, the wind farm is expected to annually generate 90GWh of clean energy while avoiding 77,000 tonnes of CO2 emissions.
Construction of the wind farm is scheduled to begin in the second quarter of this year and is expected to be commissioned by the end of next year.
Overall investment for construction of the wind farm will be €48m
ERG estimates that the overall investment on the wind farm could amount to nearly €48m.
The company also stated that the transaction will allow it to expand its presence in the Polish onshore wind market, increasing its capacity to 118MW.
ERG CEO Luca Bettonte said: “This transaction is part of our policy as a flexible industrial operator, attentive to the development of the international markets and ready to take advantage of new growth opportunities.
“Although not indicated as one of our ‘core’ countries, we are resuming our investments in Poland, where recent regulatory updates and the holding of auctions have paved the way for greater stability and growth in the wind power sector, with around 4 GW of new installed capacity planned during the two-year period 2018-2020.”
Last month, the company had acquired three wind farms in France with a total capacity of 38MW, bringing its installed capacity in the country to 398MW.
Located in the regions of Hauts de France, Centre – Vallée de la Loire and Nouvelle Aquitaine, the wind farms were brought online between 2010 and 2012 and generate an average of 70GWh of clean energy, while offsetting nearly 37,000 tonnes of CO2 emissions annually.