Polish renewable investor Figene Capital SA announced on Wednesday that it has postponed the disclosure of details regarding a contract signed in July for the sale of an 18-MW wind farm project in Poland. This decision aims to protect the seller's interests.
The contract involves Figene's subsidiary Hagart transferring Eolica Polska, a special purpose vehicle developing the wind farm, to local investor Redwood Energy. Located in Poland's southwestern Lower Silesia, the wind farm consists of nine 2-MW turbines and auxiliary infrastructure. Figene did not disclose the sale price, citing concerns that such information could impact the completion of the transaction.
Management indicated that the decision to delay the announcement was made to avoid potential complications that could arise from the immediate disclosure. They noted that disputes within the company and actions by individuals claiming to represent the company's bodies might threaten Figene's legitimate interests.
The proceeds from this sale are expected to support Figene's strategic goals, including the development of projects with a capacity of 3 MW and above, as well as the reorganization and streamlining of its project portfolio.
Figene Capital, based in Warsaw, focuses on developing wind farms, solar photovoltaic (PV), and energy storage facilities. According to its website, the group has a portfolio of 119.4 MW of ready-to-build wind farm projects, with a target of developing a 500-MW wind farm portfolio and achieving 200 MW of installed PV capacity.
