On 23 December, ALSEVA and SUNLY, an energy sector investor from the Baltics, signed an investment agreement. This is a strategic move for both companies with ambitious goals in the RES market.
In the first phase of its operations, the newly established group is to allocate ca. EUR 150 million to pursue its projects. The remaining investment costs will be financed by banks.
ALSEVA-SUNLY join forces. What do we know about the companies?
The integration between ALSEVA and SUNLY is a major milestone for the development of RES in Poland. ALSEVA is a Krakow-based developer of large-scale solar projects and a general contractor building photovoltaic farms. It also offers energy storage solutions and innovative corporate PPAs for businesses. Extensive experience in the market, independent contracting resources, a pool of specialists and proprietary know-how have boosted the company’s potential in this field.
SUNLY is an Estonian company focusing its operations in the Baltic countries. From the beginning it has been investing heavily in RES solutions and infrastructure. SUNLY was established by the 4Energy team in 2019, once the latter’s shares were sold to Enefit Green AS. At the time of takeover, 4Energy was the biggest company in the field of renewables in the Baltics. The value of the acquisition by Enefit was EUR 500 million.
ALSEVA-SUNLY join forces. Even more resources and ambitious plans
Following the integration, the Group significantly increased its portfolio, which now includes:
- 60 MW of operating PV installations
- 150 under construction
- 600 MW of projects at the final stage of design
- 200 MW of RTB farms
- 2 GW still in the pipeline
- offshore projects in the area of Estonia at different stages of development
- 100 MW connection capacity in energy storage facilities.
The Group has partnered with academic centres to launch a research project on pairing energy storage facilities with the DNO networks and an R&D programme to implement hydrogen cells in some of its farms. The investment plans are very ambitious – The group wants to obtain as much as 400 MW of generation capacity from renewable energy by 2023 (which may bring Poland up to EUR 280 million in investments), and in the next 5 years, even 2,000 MW. What is more, thanks to the cooperation, the Group will no longer need to rely on contractors. Conclusions? Among other things, the transaction will result in a major increase of EPC resources – from 120 MW per year to as much as 300-400 MW.
ALSEVA- SUNLY join forces. “To combine our forces is a must”
ALSEVA’s background in bringing RES projects to life and SUNLY’s wind and financial potential are likely to make the Group one of the leading investors in RES in the Baltic sea area. Anna Zagrajek, CEO at ALSEVA Innowacje S.A. has no doubts: “It is an opportunity for the entire RES market in Poland. The integration will boost our capacity to develop green energy infrastructure. We decided to join our forces to become one of the leading players in the sector and accelerate green changes that will benefit us all”.
None of this can be achieved without highly qualified staff. The Group is planning to grow its team to ca. 300 people. The current staff and new hires can expect to find plenty of growth opportunity in an international environment.