BXF Energia has acquired 100% ownership of Project Azalia, a photovoltaic farm project in Poland with a capacity of up to 60 MW, marking a strategic advancement in their renewable energy portfolio.

Target Company Overview

BXF Energia has acquired a 100% stake in a company responsible for developing a photovoltaic farm, known as Project Azalia, with a capacity of up to 60 MW. The project is located in the Podkarpackie Voivodeship, near Rzeszów, where the local conditions allow for an estimated annual production of approximately 65 GWh. The project has completed all necessary administrative approvals, enabling construction and connection to the grid.

According to Piotr Świecki, CEO of BXF Energia, the acquisition of Project Azalia marks a significant step in their strategy to build a portfolio of renewable energy sources with a total capacity of 500 MW. Construction is set to commence after the May holiday, with expectations for the first green energy production from this project next year. This acquisition increases the group's operating capacity to about 80 MW, with previous projects including the Magnolia Wind Farm in Greater Poland, the Kamelia Photovoltaic Farm near Warsaw, and several smaller ventures.

Industry Overview in Poland

Poland's renewable energy sector is experiencing rapid growth, driven by the need to transition from fossil fuels to cleaner energy sources. Recent governmental policies and the European Union's green deal have set ambitious targets for reduc