Aberdeen Standard Investments (ASI) has acquired a 100 percent stake in a portfolio of ground-mounted solar farms in Poland that were developed by ReneSola, a fully-integrated solar project developer.
Financial terms were not disclosed.
The portfolio consists of 34 state-of-the-art individual projects with a total installed capacity of 55 megawatts entirely located in the southwestern portion and center of Poland.
The acquisition marks ASI’s fourth investment in the Polish renewable infrastructure market, according to Dominic Helmsley, head of economic infrastructure. ASI’s economic infrastructure program focuses on investing in core infrastructure assets in Europe, and already holds 10 other assets that include a gas distribution business in Finland, a portfolio of hydroelectric plants in Norway, three rolling stock assets in the United Kingdom, a stake in an offshore gas transmission pipeline in the Netherlands, stakes in two district heating businesses in Finland, and refined hydrocarbon storage assets in Germany and the United Kingdom.
Poland is a key market for ReneSola, one of the project developers in the country, according to Shelley Xu, CEO of ReneSola. “This transaction once again validates our ability to develop and monetize solar projects across the different geographies we serve,” she said.
