DIF Capital Partners has marked its entry into the Polish renewables market with the acquisition of two onshore wind projects.
DIF, through its DIF Infrastructure Fund VI fund, has agreed to buy the projects in Podlaskie and Łódź being developed by renewable energy company OX2.
DIF Infrastructure VI, the global infrastructure fund raised more than €3bn at its final close in October last year.
The infrastructure fund manager said it will invest an undisclosed sum through the construction of the 63MW projects which are expected to become operational by end of 2022.
Once commissioned, OX2 will be responsible for the technical and commercial management of the projects, which benefit from contracts-for-difference with the Polish state, providing fixed price tariffs for the power offtake for a period of 15 years.
Christopher Mansfield, partner at DIF Capital Partners, said: “DIF is delighted to enter the Polish renewables market through this new partnership with OX2 and to support Poland’s ongoing energy transition.
“The projects fit well within the investment strategy of DIF Infrastructure Fund VI and adds to the track record of DIF-managed funds, which have invested in 2.3GW of wind and solar power projects in Europe, North and South America and Australia.”
Paul Stormoen, CEO, OX2, said: “I am very happy to welcome DIF Capital Partners as a new partner with its extensive experience from long-term investments in renewable energy projects.
“Our partnership is a significant step in OX2’s ongoing expansion in Poland. It more than quadruples the amount of green energy that will be produced from the wind farms in Poland built by OX2.”
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