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Polish wind to gain from EUR 40m investment plan

Equity fund plans to fill finance gap for Polish wind projects

Enterprise Investors (EI) has launched a fund to invest in Polish wind
Enterprise Investors (EI) has launched a private equity fund to invest around EUR 40m in the Polish wind energy industry

Polish Enterprise Fund VI (PEF VI), a private equity fund managed by Enterprise Investors (EI), plans to invest around EUR 40m in the Polish wind energy industry. To that end it has launched a dedicated investment vehicle, Wento, to handle the construction of wind farms in Poland.

More than a dozen potential wind farm projects are being assessed, said EI. On three of these, which have a total output of 200MW, Wento is already in advanced negotiations and is performing due diligence.

"We have been analyzing the wind energy market in some depth for almost a year. As a result, we strongly believe that Wento has excellent prospects for robust development,” said Michał Rusiecki, managing partner of EI. “In addition to its activities in Poland, Wento may consider entering other CEE markets in the future, especially the Romanian wind energy market, which also appears to be very attractive for investors.”

Under EI’s plan, Wento will work with wind developers to prepare projects for implementation, and then arrange for financing and construction. “It will use capital from PEF VI and bank loans to achieve these goals,” said EI.

“Wento has recruited a group of experienced managers from the wind energy industry. Their task is to select projects, coordinate due diligence, purchase shares in these projects, arrange bank financing and then supervise construction of the wind farms.”

PEF VI will provide Wento with the equity needed to build the wind farms. These will subsequently be sold to strategic or financial investors looking for stable, long-term profits.

“Our analysis shows that the number of investors willing to engage equity to construct wind farms is currently insufficient and we want to fill this gap, at least in part,” said Rusiecki.

“We believe that we can work with the developers to build wind farms with a total capacity of several hundred megawatts, thereby increasing the production of green energy in Poland. In implementing the current challenges we will use the experience we gained when we financed Polish Energy Partners, a start-up that pioneered renewable energy in Poland.”