@altassets Polish #privateequity firm EI to launch €40m wind fund



Polish Enterprise Fund VI (PEF VI), a private equity fund managed by Central and Eastern Europe-focused private equity firm Enterprise Investors (EI), has launched an investment vehicle that will handle the construction of wind farms in Poland.

PEF VI is set to invest around €40m of equity in the Polish wind energy industry within the next few years. The vehicle, known as Wento, will work with developers of wind farms to prepare projects for implementation, and then arrange for the farms’ financing and construction.



Wento has recruited a group of experienced managers from the wind energy industry. Their task is to select projects, coordinate due diligence, purchase shares in these projects, arrange bank financing and supervise construction of the wind farms.


The farms will subsequently be sold to strategic or financial investors looking for stable, long-term profits. Wento is currently examining more than a dozen wind farm projects. On three of these, which have a total output of 200MW, it is already in advanced negotiations and is performing due diligence, the firm said.


Michał Rusiecki, a managing partner at Enterprise Investors, said, “We have been analysing the wind energy market in some depth for almost a year. As a result, we strongly believe that Wento has excellent prospects for robust development. In addition to its activities in Poland, Wento may consider entering other CEE markets in the future, especially the Romanian wind energy market, which also appears to be very attractive for investors.”


Wind energy is a young but rapidly growing industry in Poland that will enable renewable energy to increase as a proportion of total energy production, in line with EU regulations.


In October last year PEF VI also injected a further €10m of capital into Romanian supermarket chain Profi Rom Food. The fund bought the chain the previous year for €66m.


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