Pathfinder Clean Energy Sets Up Polish Solar Subsidiary

• PACE has launched its Poland based solar power subsidiary calling it PACE Poland
• It will act as the group's solar farm development and project acquisition business, and stationed in Torun, Warsaw
• Phase I of the initial portfolio of 100 MW it has accumulated in the country is expected to come online from 2022
• Currently, PACE claims to have a development pipeline of over 1 GW solar projects in the UK, Canada and Spain

UK headquartered international clean energy developer and investor Pathfinder Clean Energy (PACE) is expanding to another European nation, Poland for its solar power business.

Torun, Warsaw located PACE Poland will be the company's solar farm development and project acquisition business. It has been launched after the company completed a detailed market and technical analysis over the last 18 months, identifying and advancing its initial 100 MW of early stage solar projects.

This initial portfolio of 100 MW, which the company says is its minimum threshold for any market, is to come up in the north of Poland, connected to the high voltage grid lines of existing transmission infrastructure. PACE Poland is targeting phase I of these projects to achieve connection from 2022, subject to planning and financing.

"Poland's development process does have its challenges with certain grid confirmations coming later in the process but given the Government's policy commitment to renewables and its 2030 targets, this is the right time for PACE to bring its expertise for the long term," said Development Director of PACE, Alex Ross.

Currently, PACE claims to have a development pipeline of over 1 GW solar projects in the UK, Canada and Spain. Poland is the 4^th market it is expanding to. Recently it secured planning permission for 21 MW Three Bridges Solar Park in Norfolk, UK, with co-located energy storage capacity.

This sudden interest in Poland's renewable energy scene among various developers is due to the country approving Energy Policy until 2040 with the government targeting to reach 5 GW to 7 GW of PV capacity by 2030 and close to 10 GW to 16 GW in 2040 (see Poland Approves Energy Policy Until 2040).

"Required power generation in Poland is estimated at 244 TWh in 2050 to keep up with the expected consumption growth, driven by industry, households and transportation demand," said PACE Managing Director Rob Denman. "This trend coupled with lower supply from conventional sources due to expected hard coal/ lignite decommissioning is expected to create space for new clean energy capacity. This market also benefits from EU policy and Polish regulatory framework support."

Very recently Austrian renewable energy developer RP Global said it was targeting 1 GW solar and wind energy project capacity in Poland over the next 2 years to 4 years (see RP Global To Develop 1 GW Solar & Wind In Poland).