By Abdullahi Lukman
The European Bank for Reconstruction and Development (EBRD) has committed up to €85 million (about $100.5 million) in equity to a new Polish renewable energy platform established by Virya Energy NV, supporting the development of large-scale solar projects in Poland.
The investment targets Virya Renewables Poland NV and will finance the acquisition of project rights currently held by Optima Wind sp zoo and Windlight sp zoo.
It will also fund the development, construction and operation of renewable energy assets, including a planned utility-scale solar project with a capacity of up to 722 megawatts.
The EBRD joins Virya Energy as a key investor in the platform, although the size of the shareholding acquired by the bank has not been disclosed.
Virya Energy develops, finances, builds and operates renewable energy projects and currently manages around 700 megawatts of installed capacity.
The company aims to expand its global renewable portfolio to at least 4.3 gigawatts by 2034.
Belgium-based Virya Energy is owned by the Colruyt Group, which holds a 30 percent stake, and the Colruyt family investment vehicle Korys, which controls the remaining 70 percent.
