Equinor Acquires Polish RE Developer Wento

Equinor Gets 1.6 GW Solar Project Pipeline With Acquisition Of Polish Renewables Developer Wento From Enterprise Investors For €91 million

Equinor Acquires Polish RE Developer Wento

With Equinor paying €91 million to Enterprise Investors for Wento, the latter has now become a Polish subsidiary of the company. Pictured is 162 MW Apodi Solar Project in Brazil in which Equinor and Scatec own 40% and 60% stakes, respectively. (Photo Credit: Equinor ASA)

  • Equinor has acquired 100% stake in Poland based renewable energy project developer Wento
  • With this acquisition, Equinor has acquired around 1.6 GW solar project pipeline in the country
  • The Norwegian company gets an onshore growth platform in Poland through this acquisition

Norway’s Equinor ASA has acquired around 1.6 GW solar project pipeline in Poland with the acquisition of local renewable energy developer Wento. It is taking over 100% of the Polish company for an enterprise value of €91 million ($109 million), from its present owner, private equity firm Enterprise Investors.

This solar project pipeline is currently at different stages of development, according to Equinor. Established in 2012, Wento’s business model involves developing and selling renewable energy projects and has so far monetized 177 MW solar and 85 MW wind power capacity.

Norway based state-owned energy company Equinor said it aims to play an important role in Poland’s energy transition, and that this transaction provides it an onshore growth platform in the country that aims to install close to 16 GW solar PV capacity by 2040, growing from over 2 GW in 2020 (see Poland Approves Energy Policy Until 2040).

Under the deal reached with Equinor, Wento will become a subsidiary of the Norwegian company, continuing with the same team to build its business for the future.

In the renewables business, Equinor also owns a 13.1% stake in Norway’s independent renewable energy producer Scatec (see Equinor Acquires Stake In Scatec Solar).

About The Author

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews. Anu is our solar news whirlwind. At TaiyangNews she covers everything that is of importance in the world of solar power.

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