UK-headquartered developer, Hive Energy, has acquired four sites from Polish developer, T&T Proenergy
The acquisition is in line with Poland’s bold strategy to grow green energy adoption by 2030
This is the second acquisition in the company partnership as part of an ongoing agreement of a minimum of 700 MW PV capacity
Global renewable energy developer Hive Energy, has completed the acquisition of four early-stage solar projects from Polish developer, T&T Proenergy (formerly 01Cyberaton SA). The projects will be co-developed to Ready to Build status.
Hive Energy and T&T Proenergy paired up in 2023 when Hive acquired three PV projects in Poland. The companies have an ongoing development agreement for a portfolio of photovoltaic projects with a minimum of 700 MW in the region. The agreement includes options to potentially extend on the partnership in the future.
Poland’s government is supportive of green energy adoption, having adjusted legislations for transmission grid investments and spatial planning reforms. The positive market developments have resulted in wind and solar power generating more than 20% of the country’s power, up 16% from 2022. Poland now has the potential to generate up to 70% of its electricity from clean sources by 2030, which is in line with its ambitious green energy goals for the coming decade.
Hive is exploring further renewable energy options to support Poland’s energy transition, including greenfield PV, wind, battery energy storage and green hydrogen, as well as co-located projects and strategic partnerships. Poland is a suitable investment region for the company thanks to the quality of its projects and developers, as well as the attractive energy prices and demand for renewable energy with government support.
Artur Foksa, Hive Energy’s Polish Country Manager, commented: “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. T&T Proenergy share our vision for a low-emission future, and it is great to be working closely with a like-minded team. 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 and Resline as its technical and environment advisor.
Roman Tabaka, CEO of T&T Proenergy commented: “We are very pleased to cooperate with Hive, we greatly appreciate the professional team we can work with. The last year of working together was very significant for us and allowed us to contribute to expanding the investment portfolio with further projects. We expect that the funds that will come to Poland from the KPO (UE 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. Our ambitions and common goals lead to protecting the environment and building a better future for the next generations.
T&T Proenergy was supported by GML Paweł Marcinkiewicz, legal advisor, and Equity and Growth Investments Michał Ambor, investment advisor.
T&T PROENERGY S.A. is an EPC company providing complex services for the investment process of photovoltaic power plant development. Since 2011, the Capital Group has been successfully carrying out development projects in Poland, providing investment implementation from land lease, site analysis, layout, preparation of documentation, obtaining administrative decisions and permits, construction, commissioning, and service support. T&T Proenergy has a development department acquiring land to lease for multi-scale photovoltaic power plants across the country, and is currently leading the investment process for more than 2,000 MW. The accumulated experience focuses on practical knowledge, which is a competitive advantage with regard to the design, agreements of power connections, building, operation and management of photovoltaic power plants on the area of all grid operators in Poland.
