Aberdeen Standard Investments (ASI) and R.Power sp. z o.o. (R.Power) have finalised a transaction whereby ASI acquired a 100% stake in a 45.5MW portfolio of ground mounted solar photovoltaic (“PV”) farms from R.Power.
The portfolio developed by R.Power consists of 47 state of the art individual projects with a total installed capacity of 45.5MW. All of the projects have been awarded a 15 year contract-for-difference (“CfD”) support mechanism ensuring stability of electricity pricing for the projects. The portfolio is entirely located in Poland, predominantly in the west and centre of the country.
The solar power parks are equipped with the technological solutions enabling production of around 48,000 MWh of electricity annually, which will ensure supply for over 20,000 households and will contribute to the reduction of carbon dioxide emissions by nearly 40,000 tons each year.
ASI is a leading global asset manager with over 1,000 investment professionals managing £505 billion (US$643 billion, as at 31 December 2018) of assets worldwide. The acquisition of R.Power’s projects is ASI’s third renewable infrastructure investment in Poland. The company’s Economic Infrastructure programme focuses on investing in core infrastructure assets in Europe, and already holds ten other assets including: a gas distribution business in Finland, a portfolio of hydro-electric plants in Norway, three rolling stock assets in the UK, a stake in an offshore gas transmission pipeline in the Netherlands, stakes in two district heating businesses in Finland, and refined hydrocarbon storage assets in Germany and the UK.
