Poland's ZE PAK buys 88-MW wind project from Dutch investor

Poland's energy group ZE-PAK (WSE:ZEP) said that its unit PAK-Polska Czysta Energia has bought the Eviva Drzezewo special purpose vehicle (SPV) developing an 88-MW onshore wind project in the northern Pomeranian province.

The project in the Slupsk district was acquired from Dutch-based investor Polish Wind Holdings. It has the necessary administrative and legal permits for the start of construction works, the company said in a bourse filing on Friday. The facility will be launched in the fourth quarter of 2025. It is designed to produce 240 GWh of electricity annually.

The total investment related to the acquisition and the implementation of the project is estimated by the buyer at some PLN 920 million (USD 217m/EUR 198m). For this purpose, ZE PAK will borrow PLN 99 million from media group Cyfrowy Polsat SA. Both companies are controlled by Polish entrepreneur Zygmunt Solorz.

In August, PAK-Polska Czysta Energia bought a 50.6-MW wind development in Potegowo in the Slupsk district from the same seller. Last year, ZE PAK also added to its wind portfolio a 72.6-MW project in Czluchow, the Pomerania province.

(PLN 10 =USD 2.36/EUR 2.16)

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