REM: Poland’s Columbus Energy buys 90 MW worth of solar projects

Polish company Columbus Energy, which specialises in supplying and servicing of photovoltaic (PV) solar power installations, has bought two PV projects totalling 90 MW of installed capacity, the company said on September 17.

The acquired projects comprise a 60-MW PV power plant with a secured grid connection permit and a 30-MW project at an earlier stage of development. 

Poland’s PV industry is booming due to the government subsidies under the so-called “My Electricity” programme. The country has 5.5 GW worth of PV installations, mostly private ones on homes, but also some larger commercial projects.

That is already above the government’s official target of 5.1 GW for 2025, as assumed in the long-term energy strategy. PV capacity is expected to shoot up to at least 10 GW as soon as in 2025. 

Polish PV companies have become sought-after investment assets in effect. Smaller service companies offering installation and technical advice have mushroomed as well.

Columbus, which is listed on the Warsaw Stock Exchange's alternative market NewConnect, currently has 44 MW of fully operational farms and 56 MW under construction. The estimated market value of these assets is PLN350mn-PLN400mn (€76mn-€87mn). The company also has another 100 MW in the construction pipeline, while its entire development portfolio is 4.5 GW.

Poland still derives some 70% of its electricity from burning coal and lignite, but has seen an accelerated transformation towards cleaner generation recently.

Up to 11 GW of offshore wind power is under development in the Baltic Sea, with the first installations expected to become operational by the late 2020s. The Polish government also says that it is only a year away from confirming the supplier of technology for the country’s first nuclear power plant (NPP).