UK-Based Hive Energy Acquires 272 MW Polish Project

UK-Based Hive Energy Acquires 272 MW Polish Project

UK-headquartered renewable energy developer Hive Energy, has completed the acquisition of four early-stage solar projects from Polish developer, T&T Proenergy. The projects totaling 272MW from Polish developer T&T Proenergy. The projects will be co-developed to Ready to Build status. The companies have an ongoing development agreement for a portfolio of photovoltaic projects with a minimum of 700 MW in the region.

Hive Energy and T&T Proenergy paired up in 2023 when Hive acquired three PV projects in Poland. The agreement includes options to potentially extend the partnership in the future.

Poland’s government has adjusted legislation for transmission grid investments and spatial planning reforms. The positive market developments have resulted in wind and solar power generating more than 20% of the country’s power, up 16% from 2022. Poland now has the potential to generate up to 70% of its electricity from clean sources by 2030, which is in line with its ambitious green energy goals for the coming decade.

According to the press release by the company, Hive is exploring further renewable energy options to support Poland’s energy transition, including greenfield PV, wind, battery energy storage, and green hydrogen, as well as co-located projects and strategic partnerships.

Artur Foksa, Hive Energy’s Polish Country Manager, commented, “I am pleased that Hive and T&T Proenergy can work together on this collaborative partnership to bring important, and necessary, green power to Poland. T&T Proenergy shares our vision for a low-emission future, and it is great to be working closely with a like-minded team. The 700 MW portfolio of projects we are building will make a substantial and positive impact on Poland’s energy mix and its move away from fossil fuels.”

Roman Tabaka, CEO of T&T Proenergy stated, “We are very pleased to cooperate with Hive, we greatly appreciate the professional team we can work with. The last year of working together was very significant for us and allowed us to contribute to expanding the investment portfolio with further projects. We expect that the funds that will come to Poland from the KPO (UE fund) will be mostly allocated to energy transformation and grid expansion, allowing for an increase in the number of new power connections and obtaining connection conditions for the projects being developed. Our ambitions and common goals lead to protecting the environment and building a better future for the next generations.