September 26 (Renewables Now) - PAD RES, a joint venture between Kajima Europe and Griffin Capital Partners, has sold a 35-MW solar farm in Poland to Polish state-run utility Enea (WSE:ENA), according to an announcement today.
The Genowefa solar farm is located near Kleczew in western-central Poland. It moved into construction in April 2022 and went online in August 2023.
Real asset investor Kajima Europe, part of Japan’s Kajima Corp (TYO:1812), and private equity investor Griffin Capital Partners acquired a majority stake in Polish clean energy developer PAD RES in September 2021. This is the first PAD RES development to be built, commissioned and sold since then.
“Since 2022, we have acquired 13 projects with a total capacity of 450 MW with Grid Connection Conditions, and we also have additional active investment plans – we are planning to start construction of another 140 MW of photovoltaic projects this year,” said Julian Rudd-Jones, director at PAD RES Group.
For Enea, the acquisition is the latest in a series of deals over the past few weeks in line with the company’s plans to increase its renewable energy capacity.
“Our next installations are in the pipeline, and currently, we have projects within Group companies with specified connection conditions for about 525 MW. In 2024, we plan to have projects for about 800 MW with construction permits issued," said Enea chief executive Pawel Majewski.