Hive Energy acquires three solar projects in Poland, with an expected capacity of 270 MW

Hive Energy acquires three solar projects in Poland, with an expected capacity of 270 MW

UK based renewable energy developer Hive Energy [Hive] has acquired three solar photovoltaics (PV) projects situated in Poland from 01Cyberaton Proenergy (01Cyberaton), a leading PV developer listed on the Warsaw Stock Exchange’s New Connect market.

The projects are part of a development agreement between Hive and 01Cyberaton for a portfolio of a minimum of 700 MW in the country. Environmental applications have already been prepared for these three initial projects, which are expected to reach Ready-to-Build status by 2026.

This acquisition builds on the greenfield project development that Hive has already been undertaking in Poland, and provides a platform from which to establish itself as a leading renewable energy developer in the market.

Currently less than 16% of Poland’s energy is sourced renewably. In recent months Poland has announced its updated Transmission Plan that seeks to combat issues with RES development and connection, in line with the 2023-2032 commitment to clean energy adoption. The National Power System aims to connect more than 20 GW of solar generation and 25 GW of onshore and offshore wind farms before 2030. Not only will the increase in green energy support Poland’s low-carbon commitment, but it will also increase the security of the country’s power supply, reducing reliance on energy imports and lowering prices which have risen significantly in recent years.

Artur Foksa, Polish Country Manager at Hive Energy, commented on the acquisition: “We are delighted to have secured this important portfolio of projects in the Polish market. These projects will contribute significantly to accelerating the energy transition in Poland, bringing positive changes to the country’s energy mix and a significant step towards the decarbonisation of the Polish economy. We look forward to working closely with 01Cyberaton Proenergy to accelerate these projects through development and into construction.”

Mike O’Neill, CEO of Hive Renewables, added: “Poland is an important strategic market for Hive and this acquisition puts us on the map as one of the country’s leading developers, bolstering our existing organic growth there.”

Roman Tabaka, 01Cyberaton’s CEO and shareholder, stated: “It is an honour for 01Cyberaton to partner with Hive Energy in respect of these projects. We are proud to have closed this transaction with a global renewable energy developer, and look forward to a long and mutually beneficial relationship over the coming years. We strongly believe that Hive’s experience and 01Cyberaton local expertise provides an excellent match to pave the way to RES success in Poland.”