With the Latest Acqusition from Equinor, Owner of Wento, Modus Asset Management Solar PV Portfolio in Poland Reached 113 MW

Source Press Release
Company Modus Asset ManagementEquinor ASA 
Tags Renewable Energy, Asset Deals, Deals, Power
Date August 10, 2022

Modus Asset Management, a specialised renewables investor and Equinor, owner of Wento – leading onshore renewables developer in Poland have entered into a transaction whereby a fund managed by Modus Asset Management will acquire a 100% stake in a 28 MW turnkey portfolio of ground mounted solar photovoltaic farms developed by Wento.  

The portfolio was developed, commercialized and constructed by Wento, 100% owned by Equinor, and is consisting of 28 state of the art projects equipped with bifacial solar panels and a total installed capacity of 28 MW. All of the projects have been awarded a 15-year contract-for-difference (“CfD”) support mechanism in Poland, ensuring stability of revenue for the projects. Under the terms of the agreement, the value of the transaction will not be disclosed.

The acquisition was implemented through Modus Poland Solar Fund I (the “Fund”), managed by Modus Asset Management. To date the Fund has concluded acquisition transactions with multiple developers comprising 113 MW solar PV projects in Poland. The Fund continues its active investment phase, partnering with solar developers in Poland and acquiring turnkey or operational solar projects.

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