Renewable Power Capital (RPC) has announced a joint venture (JV) with Tundra Advisory, a subsidiary of impact investment management firm Taiga Mistral, to develop a pipeline of up to 1GW of onshore wind projects in Poland.

The formation of the JV, which is subject to regulatory approval in Poland, enables Renewable Power Capital to foray into the Polish onshore wind market.

The UK-based renewable energy investment platform said that more than 500MW of potential sites have already been identified alongside Tundra Advisory.

Tundra Advisory and Taiga Mistral CEO Jaime Blas said: “We are pleased to enter into a strong strategic partnership with an international and reputable investor such as RPC.

“The joint venture will maximise the capabilities of both parties, enabling us to achieve our ambition to become a leading developer of wind energy in Poland.”

With its expertise of having developed renewables in Poland for more than 15 years, Tundra Advisory is expected to contribute its deep capabilities to the partnership.

Renewable Power Capital anticipates to provide a flexible source of long-term funding to optimise value and scale.

The renewable energy investment platform noted that the Polish government currently expects to double the renewable electricity generation capacity from 2020 levels to about 25GW by 2030.

Presently, more than two-thirds of electricity in Poland is generated from coal, which sets it apart from other gas-heavy European grids and offering a strong potential for decarbonisation.

Renewable Power Capital chief commercial and technical officer Mariano Berges said: “The European energy market is undergoing significant changes and renewables will play an increasingly important role.

“Renewable Power Capital aims to be part of the solution. Poland has the potential to be one of Europe’s largest onshore wind markets, and we are pleased to be working with the very experienced team at Tundra to unlock this.”

Established in 2020, Renewable Power Capital is backed by CPP Investments.

Around mid-2022, the renewable energy investment platform signed a deal worth €800m to acquire a cluster of 528MW ready-to-build onshore wind farms in Sweden from undisclosed sellers advised by Newsec Infra.