Sun Investment Group acquires the biggest solar portfolio in Poland
Sun Investment Group (SIG) continues to develop solar business globally.
Together with partners — energy group E-Energija and experienced solar photovoltaic (PV) construction company I+D Energias — SIG have secured project acquisition rights for solar PV projects with a cumulative power of 42,36MWp and holds the biggest solar portfolio in Poland.
The group was awarded in the Poland’s Energy Regulation Office auction, held on 29th of June, 2017.
The portfolio which totals 42,36MWp in nominal power consists of 43 projects, each up to 1MWp in size, which have building permits and 15 year CfD tariffs granted in the official auction. It is a long-term fixed energy sale with a government guarantee. Solar arrays are dispersed all across Poland's territory and are due to be connected to the grid on Q1 of 2019. Projects are completely ready to build, also, EPC and O&M options are in place.
Poland offers great opportunities for growth as as its solar energy market is only at the beginning stage with 300+ MWp awarded auctions. The country’s solar capacity is projected to grow at a pace of 400 - 500 MWp per year.
Now most of Poland’s electricity is generated by coal while the European Union demands at least 20% of country’s energy supplies to be renewable until 2020. In result, the government is promoting solar energy development so that the country achieves at least the minimum goal of reducing greenhouse gas emissions. In Ireland’s case, failing EU’s regulations brings fines that can reach up to hundreds of millions euros.
SIG is establishing itself as one of the early developers with multiple options for project rights acquisitions and development opportunities. The group has long-term plans for Poland and expects to acquire additional 100MWp each year. New office was opened in Warsaw and local TOP talent team is being assembled.