Polish renewables investor Raen has forged a partnership with Spain's Grupo Cobra to jointly undertake a 150MW solar project in the West Pomeranian voivodeship. Raen, serving as a platform linking investors with renewable energy ventures, sealed a joint venture agreement with Grupo Cobra to co-implement the project.
Under the terms of the agreement, Raen will spearhead the initial phase of project preparation, gearing it towards the construction stage. Adam Guz, President of the Raen Capital Group Management Board, outlined the company's approach, stating, “In addition to the classic preparation of the project for the construction phase, in the next stage, we will be able to participate in its construction and then benefit from the operation of the installation.” This strategic move aligns with Raen's ambition to broaden its operational footprint and emerge as an independent energy producer.
As part of the joint venture, Raen assumes a 20% ownership stake in the solar farm development endeavor situated in the municipality of Dobra. Furthermore, through a separate Developer Services Agreement (DSA), Raen is tasked with securing all requisite approvals for the project, encompassing grid connection conditions and building permits. This phase is anticipated to span two to three years and will be structured around predefined milestones, with Raen receiving compensation upon their attainment.
Raen Group's collaboration extends beyond its partnership with Grupo Cobra, as it has inked letters of intent and agreements with prominent international entities such as Goldbeck Solar, Canadian Solar, and Golden Peaks Capital Group. Notably, ongoing projects with Engie and Metka, totaling 1.45GW, are already underway, with Raen reaping revenues tied to milestone achievements.
