Çalık Renewables has entered the Polish energy market with the acquisition of a 255MW solar portfolio from PAD RES Group.
The Turkish firm has invested an unspecified sum to acquire the Sztum and Stargard projects, a portfolio of fully operational solar installations located in Poland’s Pomeranian and West Pomeranian regions.
As part of the latest deal, PAD RES will continue to provide asset management services for the projects. In line with Çalık Renewables’ long-term investment strategy in Poland, PAD RES has also agreed to develop wind farms and energy storage projects for the Turkish firm.
The latest deal boosts Çalık Renewables’ international installed renewable capacity to over 400MW. Çalık Renewables made its first international renewable energy investment with the Zatric Wind Power Plant in Kosovo, which is currently under construction.
Parent Çalık Group is also active in Poland through its subsidiary Çalık Enerji, which, serving as the EPC contractor, will undertake the construction of 1.3GW capacity, hydrogen-ready combined cycle gas power plant project in Kozienice.
Emre Erdoğan, general manager of Çalık Renewables, said: “Poland is a strategic market that has been underpinning its strong and stable economic growth with a determined energy transition in recent years.
“This investment by Çalık Renewables clearly demonstrates Çalık Group’s long-term commitment to sustainable economic growth and the green energy transition in Poland. We view Poland as the strategic cornerstone of our expansion and long-term growth across EU.”
PAD RES, a Polish renewable energy developer and investor, majority-owned by a joint venture between Kajima Partnerships and Griffin Capital Partners.
Mariusz Adamczewski, CEO, founder and minority Shareholder of PAD RES, said: “This transaction primarily enables us to release capital for further renewable energy investments and, at the same time, diversify our generation assets, working towards a renewables mix that is optimal for today’s and tomorrow’s electricity market.”
Chris Gill, managing director at Kajima Partnerships, said: “By recycling capital from operational assets, PAD RES can accelerate the development of new projects, including battery storage and wind, which are critical to Poland’s green energy transition.
“Our partnership demonstrates how long-term investment can drive innovation and deliver a diversified renewables mix that strengthens energy security and supports sustainable economic growth.”
Jedrzej Socha, director at Griffin Capital Partners, said: “From an investor’s perspective, it is essential today not only to develop new installations, but also to ensure their efficient operation within the power system and the long-term stability of projects.
“The model implemented by PAD RES Group – focused on the further development of existing renewable assets through cable pooling and their enhancement with energy storage – allows for more efficient use of existing infrastructure and increases asset value across the entire lifecycle. This approach underpins a long-term investment strategy in the renewable energy market.”
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