GoldenPeaks Capital Energy (GPCE), a Malta-headquartered green power producer, has acquired 283 MW ready-to-build (RtB) solar power projects in Poland, located mostly in the country’s western and northwestern regions.
The portfolio comprises a mix of projects with capacities of up to 10 MW.
GPCE also plans to acquire 150 MW of RtB assets before the end of the year to achieve its quarterly target of 433 MW.
With the latest acquisition, the company aims to strengthen its solar market in Poland and close in on its target of 1 GW of solar assets in Poland by 2024.
Daniel Tain, President of GPCE, said, “Our acquisition team has worked tirelessly to close these multiple acquisitions and will be working right up to the end of the year to finalize the remaining portfolios. When added to our existing pipeline, these assets establish an even firmer base from which to execute our 1 GW Polish construction pipeline as of 2024.”
The company currently owns 2.1 GW of existing solar power projects and 1 GW of additional pipeline.
To speed up its expansion, GPCE said it would focus on high-voltage, large-scale development of up to 100+ MW per site and is also in the process of developing a large-scale battery storage systems portfolio.
GPCE said they have expanded to Hungary and applied the same strategy developed in Poland. The company currently owns a 750 MW development portfolio comprising a Corporate Power Purchase Agreement and Contract of Difference) awarded projects.
According to Mercom’s 9M and Q3 2023 Solar Funding and M&A Report, in the first nine months (9M) of 2023, there were 166 project acquisitions for 31.6 GW compared to 207 projects for 52.1 GW in 9M 2022.
Adapture Renewables, a utility-scale solar and energy storage project developer, recently announced the acquisition of three solar power projects totaling 450 MWdc/ 333 MWac in MISO territory in Illinois and Arkansas from Tyr Energy Development (TED) Renewables. All three acquired projects are currently in the pre-notice-to-proceed stage, with anticipated commercial operation dates slated for 2025 and 2026.