Mon. Sep 16th, 2019

Warsaw and China join hands over a solar power project

A Warsaw based private equity fund-Neoinvestments and China’s Sinology Electric Engineering have launched a project to build a photovoltaic power station. It is regarded as Poland’s largest station of its kind.

Based on the project, the plan will build 600 megawatts capacity by 2021. Reports suggest, KGHM, which is Poland’s state-run copper producer and the energy group PGE will work closely on the new solar project. It will build up to 500 MW by 2023. The cost is estimated to be around 3 million zlotys ($764,000) per 1 MW.

The project is reported to be part of PGE’s plan and will have 2.5GW by 2030 with respect to solar energy.

The Deputy Energy Minister, Krzysztof Kubow, spoke on Tuesday with regards to the new project, “(The) event is another step towards Poland’s implementation of goals related to the increase in the share of renewable energy sources in final energy consumption, as well as the development of a low-carbon economy, where photovoltaics plays one of the leading roles.”