Subsidiary Columbus Energy signed an agreement to acquire 100% of shares in the company implementing the project of a photovoltaic farm with the issued conditions for connection to the power grid with a capacity of 61.3 MW, the company said.
The ownership of the shares is to be transferred after the payment of part of the purchase price, which is to take place by February 28, 2022. The Seller undertook to take steps to increase the installed capacity to 91.3 MW within 18 months from the conclusion of this agreement.
“The development of photovoltaic farm projects is a key area of our investment activity, which is already profitable for the group. The project that has just been purchased is one of the largest in Poland, with connection conditions issued. Its value after construction will amount to approximately PLN 250 million. We plan the project in the PPA formula in 2023. In addition, we are constantly working on acquiring projects of less power, which ultimately increases our volume in photovoltaic farms,” said Janusz Sterna, Vice President of Columbus Energy.
At the end of November 2021, Columbus’ portfolio of solar farms included projects at various stages of advancement, located throughout Poland, with a total capacity of 5,270 MW.
Columbus Energy reports that it is the market leader in photovoltaic micro-installations in Poland. The company is listed on the New Connect market.
Source: Columbus Energy and ISBnews
