Enterprise Investors sells the Skoczykłody wind farm
Warsaw, 31 July 2020 — Polish Enterprise Fund VI, a private equity fund managed by Enterprise Investors, has sold the Skoczykłody wind farm. The buyer is PGE Energia Odnawialna, a subsidiary of PGE Polska Grupa Energetyczna. The enterprise value is EUR 50 million.
Building on experience gained in the course of its investment in Polish Energy Partners (PEP), now Polenergia, in 2012 Enterprise Investors made its next investment in the renewable energy sector when it founded Wento. EI invited a group of experienced managers to run the project, including Wojciech Cetnarski, the founder and former CEO of PEP, who steered the new entity. Initially Wento acquired wind projects at an advanced stage of development, improved their parameters, built the wind farms and sold them to end buyers. In 2016 the company entered the solar energy segment, in which it develops projects from concept to going concern. To date, Wento has developed or constructed wind farms with a combined output of more than 80 MW, and photovoltaic projects generating close to 230 MW.
Skoczykłody is a modern and highly efficient wind farm that generates 36 MW. Thanks to the Wento team’s considerable experience, the facility was constructed on time and to budget in a mere 15 months. The farm became commercially operational in the fourth quarter of 2015.
“We are very pleased that by selling the Skoczykłody wind farm to PGE Group we are contributing to the green transformation of Poland’s energy sector,” – said Michał Rusiecki, managing partner at Enterprise Investors who is responsible for this investment. “We are one of Poland’s renewable energy pioneers, and our portfolio company Wento, which is currently developing projects with total capacity close to 700 MW, is among the top solar power companies in Poland,” he added.
Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised nine funds with total capital exceeding EUR 2.5 billion. These funds have invested almost EUR 2 billion in 144 companies across a range of sectors and exited 134 companies with total gross proceeds of EUR 4.1 billion.
For further information please contact:
Anna Czywczyńska, Communications & Public Affairs Director
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