China-CEE and Israeli Enlight to aquire Polish wind farms

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China-CEE and Israeli Enlight to aquire Polish wind farms

Reuters reported in early September that the China-CEE Fund and Israel-listed Enlight Renewable Energy will invest up to 1.3 billion zlotys ($406 million) to acquire two Polish wind projects adding 250.5 MW in installed capacity.

China-CEE Fund will hold 49.9 % and Enlight 50.1 % in the joint venture, which will allow the Israeli-based firm to consolidate the results in its financial accounts.

The projects, developed by GEO Renewables, are Wroblew and Project 2.

  • Wroblew, with a capacity of around 36 MW and valued at around 200 million zlotys, is to be completed in November this year.
  • Project 2, with a capacity of around 214 MW, has the first stage to be finilised at the end of 2015.

The Export-Import Bank of China established CEE Equity Partners in partnership with state-backed financial institutions from eastern and central Europe to capitalise on investment opportunities in the region. The fund has $500 million to spend in the region over the next two to three years.

In July, CEE Equity Partners agreed to buy a 16 % stake in Poland's largest private utility PEP for 240 million zlotys.

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