Modus to buy 28-MW Polish solar portfolio from Equinor's Wento

Solar PV park. Source: Modus Group.

August 10 (Renewables Now) - A fund managed by renewables investor Modus Asset Management has signed a deal to buy a 28-MW turnkey portfolio of ground-mounted solar farms in Poland from Equinor ASA’s (NYSE:EQNR) local business Wento.

The bundle being acquired includes 28 solar arrays featuring bifacial panels. They were developed, commercialised and constructed by Wento and are backed by 15-year contracts for difference (CfDs).

With this transaction, the portfolio held by Modus Poland Solar Fund I reaches 113 MW.

“We retain our positive view on the Polish solar PV market, which underwent unprecedented changes in the recent months. Higher degree of complexity is required to navigate power price volatility, rising financing costs, high inflation and foreign exchange fluctuations. We are committed for further investments, strengthening regional energy independence and expanding clean generation sources,” said Povilas Peciulis, CEO of Modus Asset Management.

Equinor took over Wento, including its 1.6-GW solar project pipeline, from private equity firm Enterprise Investors last year.

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