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The Warsaw Voice » Business » May 28, 2008
ENERGY
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Spanish Fund to Build Wind Farms in Poland
May 28, 2008   
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Spanish private equity fund Taiga Mistral has launched a 300-million-euro project involving the construction and enlargement of the network of wind farms in this country. Poland is a promising market for investment in the wind power sector, Taiga Mistral says.

Taiga Mistral, registered in Madrid, will allocate funds it obtains from Spanish investors to build a network of wind farms with a total power output of 250 MW. Under its strategy, Taiga Mistral will invest in these projects in cooperation with Polish companies that hold permits to build such facilities.

Taiga Mistral has made its first investment in a wind farm that is expected to generate 26 MW. The farm is slated for completion in 2009. "By the end of 2009, the project will consume 35 million euros, 80 percent of which is the cost of the turbines," said Mikel Garay, managing director of Taiga Mistral. "We are negotiating contracts with leading wind turbine producers."

The fund plans to build in Poland a network of wind farms with a total output of 250 MW in three to four years. This is almost the same as the total amount of power currently generated by wind farms across the country (276 MW).

"Without new investment in the power grid, taking full advantage of the potential offered by Poland's wind power sector is out of the question," said Jarosław Mroczek, president of the Polish Wind Power Association.

Taiga Mistral says it appreciates the prospects offered by the Polish market for wind power and is keen to embark on its projects, looking forward to a successful partnership and good conditions for development in Poland. The investor is aware that all this will take time and require changes to the country's legal system as well as improvements to its power grid infrastructure. "Wind power is one of the most promising sectors for investment in Poland," said Garay.

Specialists say that the demand for wind power in Poland is enormous; by 2010, at least 7.5 percent of the entire energy production in Poland is supposed to come from renewable sources. Last year, Spain launched wind power units generating a total of 3,522 MW.
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