CEE countries like Poland offer huge investment opportunities in renewables
Central and Eastern European countries figure prominently in the 2019 CMS Infrastructure Index, with the region cited as among the most attractive destinations for infrastructure investment. Poland, in particular, has performed strongly in the report, which describes Central and Eastern Europe as ‘brimming with opportunities’ in renewables. Poland’s high ranking is aided by international and local solar energy investment companies like Sun Investment Group (SIG) entering a flourishing Corporate Power Purchasing Agreements (CPPAs) market.
“The rise in the popularity of CPPAs has also reached Central and Eastern Europe - Poland is making big strides in the clean energy sector,” the report states, citing the country’s political stability, ease of doing business and new legislation that promotes auctions in small PV projects as key to its success.
Support for investments in sustainable assets
Poland’s strong showing in the index is an endorsement of the government’s support for investment in sustainable assets - the traditionally coal-reliant country has tripled its solar energy capacity in 2019. “Ongoing initiatives in the country, such as the renewable auctions, are helping it make progress towards its renewable goals, Rafał Rzeszotarski, General Manager at SIG explained. “We could not expect a country to turn away from the coal industry immediately. Instead, we are noticing highly sensible efforts to diversify the Polish energy infrastructure with its initiatives to support individual PV plants construction and support similar actions.”
SIG is one of the largest investors in solar power in the CEE region and is currently constructing 600MW worth of small-scale solar power energy developments in Poland. The company’s forays into the market for individual CPPAs involve SIG providing planning, expertise, maintenance and legal support in the development of new solar power plants on the rooftops of existing corporate buildings, utilizing a previously untapped and valuable resource.
“With the EU’s ‘historic’ €1 trillion Green Deal set to be formalized in a climate law in the coming months, the opportunities for investment and innovation in renewables are myriad”, Rzeszotarski says. (HCN)