British renewables developer Hive Energy has acquired four early-stage solar photovoltaic (PV) projects from Polish energy company T&T Proenergy as it looks to expand its European portfolio.
The four sites will have a combined capacity of 272MW. The deal will aid Poland’s plans to grow its renewables capacity to at least 3.4GW by the end of the decade, Hive Energy said in a statement on Tuesday, although this target is way out of line with the EU’s RePowerEU goal.
Artur Foksa, Hive Energy’s Polish country manager, said: “I am pleased that Hive and T&T Proenergy can work together on this collaborative partnership to bring important, and necessary, green power to Poland… The 700 MW portfolio of projects we are building will make a substantial and positive impact to Poland’s energy mix and its move away from fossil fuels.”
Hive was supported by SSW Law & Beyond as its legal, real estate and environmental advisor for the deal and Resline as its technical and environment advisor. T&T Proenergy was supported by GML Paweł Marcinkiewicz as its legal advisor and Equity and Growth Investments Michał Ambor as its investment advisor.
Roman Tabaka, T&T Proenergy CEO, said he is “very pleased” about the cooperation with Hive. “We expect that the funds [due to] come to Poland from the KPO [EU recovery fund] will be mostly allocated to energy transformation and grid expansion, allowing for an increase in the number of new power connections and obtaining connection conditions for the projects being developed,” he added.
In 2023, Hive acquired three other solar PV projects from T&T in Poland. The companies have an ongoing development agreement to create a portfolio of solar projects in the region that will eventually have a minimum combined capacity of 700MW, Hive said.
Hive has recently made several major project announcements. In January last year, it announced plans to build 4GW of solar and battery storage capacity in Türkiye, which is expected to cost $4bn (Tl126.98bn) and cover 30 different locations across the country.
