Solar deals add momentum to Poland's renewable energy boom

Poland’s solar boom continues, as two new announcements showcase the rising investor and developer interest in the Eastern European nation’s renewable energy sector.

Firstly, the London-headquartered renewable energy platform Gülermak Renewables has signed a power purchase agreement (PPA) with Hekla Energy covering two solar projects in western Poland, strengthening its position in one of Europe's fastest-growing clean energy markets.

The agreement covers the 5MW Powidz solar farm and the 40MW Brodnica project, both within the Greater Poland region. Structured around Poland's Contract for Difference (CfD) scheme, the arrangement provides route-to-market services for the projects through to 2030.

Hekla Energy, which is part of the Eneco Group, supplies renewable electricity to more than 20,000 customers across Poland and provides balancing, PPA and market access services for renewable energy developers.

The agreement forms part of Gülermak Renewables' wider strategy to establish a considerable renewable energy portfolio in Poland. The developer is targeting 500MW of installed capacity across solar, battery energy storage and onshore wind, supported by a local team of 20 employees.

Attractive proposition

According to Jakub Pilc, head of PPA and commercial management at Gülermak Renewables, the deal provides an important commercial foundation for the company's long-term expansion plans. 

"This agreement is an important milestone for Gülermak Renewables in Poland and demonstrates the progress we are making in building a long-term platform in one of Europe's most attractive renewable energy markets," he said.

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The Polish market is not only attractive for developers; investors are also greatly targeting it. This is aptly illustrated by an announcement from investment and management platform, Qualitas Energy.

The global platform has secured approximately €53 million ($60 million) in project financing to support the construction of a 117MWp solar PV portfolio in Poland, further expanding its renewable energy investments in the country.

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The financing, arranged by CaixaBank and Bank Millennium, will fund two greenfield solar projects located in Słoniawy, in the Masovian Voivodeship, and Końskie, in the Świętokrzyskie Voivodeship. Both projects are scheduled to enter commercial operation in 2027.

The debt package has been structured on a non-recourse basis, incorporating a term loan, supporting financing facilities and an interest rate swap. Revenue from the projects will be underpinned by CfD mechanism, providing long-term revenue certainty for the development.

Strategic investment

The latest transaction strengthens Qualitas Energy's growing presence in Poland, where the company now manages more than 600MWp of solar capacity either in operation or under construction. 

In addition to its solar portfolio, the organisation is progressing a wind development pipeline exceeding 1.2GW, reflecting its broader strategy of investing across multiple renewable energy technologies.

Discussing the broader context of this announcement, Adrián Cabrejas, partner for Germany and Poland at Qualitas Energy, said: "This financing supports Qualitas Energy's strategy across the renewable energy value chain, with a focus on investing in and developing high-quality wind and solar PV assets. 

"Poland offers significant long-term potential, and we remain focused on supporting projects that contribute to the country's energy transition."