Octopus Renewables buys 58.8 MW of wind farms in Poland

Green Energy

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Green energy investor Octopus Renewables Infrastructure Trust Plc (ORIT) said Tuesday it has purchased two wind projects in Poland with a combined capacity of 58.8 MW (megawatt) from German renewables developer PNE AG, according to a report by stockmarketwire.com.

U.K.-based ORIT, which invests in renewable energy assets in Europe and Australia, has acquired the Krzęcin wind farm in northwestern Poland and the Kuślin wind farm in western Poland, which have been under construction since the fourth quarter of 2020.

The total investment amount including debt funding for both projects was expected to be PLN 568 million (USD 145 million).

Financing for the projects has been provided by the European Bank for Reconstruction and Development and BayernLB. Once completed, the project would benefit from a high percentage of fixed-price revenues under the Polish contracts-for-difference scheme, until 2038, Octopus said. 

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