The US$500 million-under-management private equity investment firm CEE-Equity Partners Ltd, established by China Exim Bank in partnership with institutional investors from the Central and Eastern Europe, has committed around $78 million to renewable energy developer Polish Energy Partners (PEP), according to a document posted on PEP’s website.
The fund, established in 2014, has agreed to subscribe to 7.3 million new shares in PEP at 33.03 Polish Zloty per share, as part of the company’s reorganization.
PEP mainly operates wind power parks, and is controlled by Poland’s richest oligarch billionaire Jan Kulczyk.
Between 2017 to 2022, PEP plans to build an additional 500 megawatts of on-shore wind farms and 600 megawatts of off-shore farms on the Baltic Sea. By 2018 it plans to complete a gas pipeline between Poland and Germany to ship five billion cubic meters of gas every year.
CEE-Equity invests in infrastructure, energy, telecom and specialized production sectors in Central and Eastern Europe, typically investing US$20 million to US$70 million in equity per deal.
