An infrastructure fund managed by Aberdeen Standard Investments has acquired a 40.4MW solar portfolio in Poland from a company owned by Modus Group.
SL Capital Infrastructure II (SLCI II) fund, Aberdeen Standard’s economic infrastructure fund, is paying an undisclosed sum to buy the turnkey portfolio of 41 individual ground-mounted solar photovoltaic farms from Green Genius.
The manager said all of the projects have been awarded a 15-year contract-for-difference support mechanism ensuring stability of electricity pricing for the projects.
The deal is the second transaction between Aberdeen Standard and Green Genius. In July 2019, Aberdeen Standard acquired a portfolio of 45.4MW solar farms from Green Genius which represented Aberdeen Standard’s first investment in the renewable infrastructure sector in Poland.
Dominic Helmsley, head of economic infrastructure, Aberdeen Standard Investments, said: “In July 2019 we made our first investment in the Polish renewable infrastructure market.
“Over the course of just over a year, our solar PV portfolio in Poland has grown to over 350MW – which we believe to be the single largest portfolio in the market.”
Ruslan Sklepovič, CEO of Green Genius and member of the board at Modus Group, said: “Poland remains our key strategic market and we have already begun the construction process for a third portfolio of solar PV farms.
“We are also in the process of acquiring projects for a fourth portfolio of solar PV farms and preparing for the upcoming renewable energy auction.”
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