Poland: Equinor acquires Polish renewables company Wento and its 1.6-gigawatt solar project pipeline
06 May 2021
Wento from the private equity firm Enterprise Investors for
EUR 91 million in enterprise value, before customary net cash adjustments. The acquisition supports Equinor’s effort to be a leading company in the energy transition and provides a strong platform for growth in the Polish energy market.
Wento’s business plan includes a total net pipeline of around 1.6 gigawatts (GW) of solar projects in different stages of development. This transaction will strengthen and diversify our portfolio in Poland, an emerging core area for Equinor. It gives us an onshore growth platform in a transition market set for significant renewables growth. says Pål Eitrheim, executive vice president for New Energy Solutions at Equinor.
5 May 2021 18:34 GMT Updated 5 May 2021 18:34 GMT
Transitioning Norwegian energy giant Equinor has set the seal on take-over Polish solar developer Wento, completing the €91m ($109m) deal the same day
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The acquision of Wento – Equinor’s biggest foray yet in to solar, following investments in projects in Brazil as well as in
floating PV and a promising perovskite technology being developed by
Oxford Photovoltaics – brings with it a total net pipeline of some 1.6Gw of solar projects “in different stages of development”.