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The Warsaw Voice » Other » March 4, 2009
Energy Security & Environment
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Taiga Mistral Busy Building Wind Farms
March 4, 2009   
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Taiga Mistral, a Spanish private equity fund that operates on the Polish market for renewable energy, has completed the first stage of its investment in wind farm energy through the purchase of three projects with a total capacity of 80 MW. In 2009 the fund plans to close its portfolio of investments with 200 MW and approximately 300 million euros.

Taiga Mistral last year completed its first stage of wind farm project acquisition by buying plants with a total capacity of 80 MW. The total value of these investments will reach 130 million euros. The strategy for 2009 calls for achieving a total capacity of 200 MW in the acquired projects, with the final value of the investment topping 300 million euros. This target is consistent with the company's long-term plan under which Taiga Mistral aims to reach the 200 MW mark over two to three years. This value is almost equal to half the total power that has already been installed in Poland (196 MW was installed in Poland in 2008, as a result of which the country's total installed capacity reached 472 MW as of December 2008).

Big interest in renewable energy, especially wind power, leads to heavy demand for turbines, which are needed to operate windmills. Taiga Mistral is in talks with several turbine manufacturers to install their products in northern Poland. In this part of the country there are many areas that are perfect for harnessing the power of wind. However, the project portfolio also includes projects from other parts of the country.

The funds of the Spanish private equity firm have been secured by a group of investors including Banco Santander, Caja Navarra, Caja Avila, and a number of private individuals.

"We have had very positive feedback from Polish banks which have expressed an interest in financing the wind energy projects in Poland," says Mikel Garay, director of Taiga in Poland. "The global financial crisis has not affected our main goal, which is to acquire good wind energy projects in Poland over the next several years. We keep on doing our job as expected."

Research shows that demand for wind energy in Poland is increasing and, according to government estimates, 2.3 percent of the total production of energy should come from wind farms by the end of 2010-meaning that the total installed capacity should be approximately 2,000 MW.

Katarzyna Zalewska
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