The UAE's clean energy developer Masdar announced the acquisition of eight hybrid renewable energy projects, along with Taaleri Energia, a Finnish-based renewable energy developer and fund manager. This represents an expansion of the Polish renewable energy portfolios of both companies.
Masdar and Taaleri Energia have purchased the projects from Domrel Biuro Us?ug Inwestycyjnych (Domrel), a leading developer in the Polish renewable energy market specializing in the development of RES power plants across Poland. They will maintain an ongoing relationship with Domrel to progress the projects through the required developmental stages.
Once operational, the eight projects, which include solar photovoltaic (PV) and onshore wind technologies, will have a combined capacity of more than 1 gigawatt (GW), enough to supply approximately 223,000 households and offset 1.8 million tonnes of carbon dioxide each year.
By developing hybrid PV solar and wind projects, Masdar is capitalizing on recent amendments to the Polish Energy Law, known as Cable Pooling, which allow for the linking of different renewable energy sources in a single grid connection.
Solar and wind power rarely operate at full capacity at the same time due to the intermittent power generation from wind and the sun. Cable Pooling helps to stabilize renewable energy generation at each connection, while optimizing the grid to ensure reliable power supply to homes and businesses across Poland. The amendment, which entered into force in October 2023, is expected to add approximately 25GW of renewable capacity in Poland.
The agreement was signed by Masdar Head, Development and Investment (Europe), Amalia Giannakikou, Taaleri Energia Investment Director, Stephen Butler and Domrel Business Development Manager, Micha? Wi?niewski.
It was witnessed by the Polish Ambassador to the UAE, His Excellency Mr Jakub Slawek, the President of the Management Board of Bank Gospodarstwa Krajowego, Beata Daszy?ska-Muzyczka, Masdar Director, Development & Investment (EMEA), Ahmed Al Awadi, Domrel Development Chief Executive Officer, Maciej Chmielarski and Taaleri Energia Managing Director, Kai Rintala.
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