Warsaw fund, Chinese company announce solar power deal

WARSAW/KRYNICA ZDROJ (Reuters) - A unit of Warsaw-based private equity fund NeoInvestments and China Sinology Electric Engineering announced a plan on Wednesday to build 600 (megawatts) MW capacity by 2021 in what they called Poland’s biggest photovoltaic power station.

A day earlier Poland’s state-run copper producer KGHM and energy group PGE said they would work together on new solar projects that might total at up to 500 MW by 2023, costing around 3 million zlotys ($764,000) per 1 MW.

“(The) event is another step towards Poland’s implementation of goals related to the increase in the share of renewable energy sources in final energy consumption, as well as the development of a low-carbon economy, where photovoltaics plays one of the leading roles,” Deputy Energy Minister Krzysztof Kubow said on Tuesday.

This would be part of PGE’s plan to have 2.5 GW in solar energy by 2030.

Reporting by Aleksandra Modrzejewska and Wojciech Zurawski; Writing by Agnieszka Barteczko; editing by David Evans