Renewable energy producer Sunly and the Polish solar power developer Alseva Group join forces to drive the green transition in Poland even faster and with remarkable scale. Following the transaction, Sunly will acquire 100% of one of the largest Polish solar power developers and constructor, Alseva Group, and the current owners of Alseva Group will acquire a shareholding in Sunly.
Alseva Group has successfully been cooperating with Sunly starting from 2019. “For Sunly, this is an important milestone for expanding our existing renewables portfolio. This transaction brings us in Poland at least 400 MW ready to build solar power developments in the short term and 2000 MW in 5 years,” commented Priit Lepasepp, the CEO of Sunly.
Alseva Group has a pipeline of 2000 MW, has won renewable energy auctions for over 200 MW, and has constructed or is currently constructing over 250 MW of solar parks in Poland. The company offers one-stop-shop services for large-scale solar parks, starting from land identification, permitting, designing and construction to long-term operating and maintenance services.
“We started mainly with 1 MW solar projects but in 2020 our first 60 MW large-scale solar project won at the Polish renewable energy auction. Our aim is to increase our market share from 4% to 10% by 2030 and become one of the leading players in Poland. Therefore, we have decided to take our existing cooperation with Sunly to a new level by joining the companies under common ownership,” said Anna Zagrajek, the CEO of Alseva Group.
Besides a bigger pipeline the synergy of this transaction is also created by uniting the teams of the two companies. “For Sunly it is very valuable that now we have increased our team from 30 to approximately 100 highly qualified professionals. People of Alseva Group are mainly engineers, accompanied by technicians and specialists who can deliver the full range of support for solar parks. This has made Alseva Group a very successful company, growing exceptionally fast,” commented Tadas Navickas, the Country Manager of Sunly in Poland.
Following the transaction, Alseva will continue business as usual, and all Alseva Group’s employees and management will remain with the company. Both companies share similar values and have a mission to contribute to the green transition. The deal will be finalised within the first quarter of 2022.
After this deal, Sunly will have 6,7 GW of renewable energy projects under development. Sunly is a renewable energy company developing, constructing and operating solar, wind and storage projects in Poland and Baltics. Sunly also invests in electrification startups such as Zero Terrain and Energiasalv, Themo, GridIo, Solarstone, Rexplorer, Skeleton Technologies, Beast and others.
