The first 4 MWp out of the total 51.5 MWp Polish photovoltaic (PV) power plants, in which SINO-CEE Fund (SINO-CEEF) invested in early 2020, were officially completed after a year of construction and successfully connected to the Polish power grid on February 5th, 2021. The remaining 47.5 MWp are expected to be completed and connected to the grid in the next 3 to 4 months. The total power generation of these projects is expected to reach 50 GWh per year, which meets the electricity demand of more than 9,000 households in Poland and reduces nearly 50,000 tons of carbon dioxide emissions annually, in line with the renewable energy development goals of both Poland and the European Union.
With this investment, SINO-CEEF follows the trend and opportunities in the global renewable energy market, creating a platform for cooperation between China and Central and Eastern Europe (CEE). By entering into PV industry in Poland, the largest economy in the CEE Region, SINO-CEEF offers an excellent case study on how the CEE region can benefit not only from Chinese financial investment, but also from Chinese production capacity and project execution know-how based on extensive experience in the renewable energy space. The projects that SINO-CEEF invested in were among the first in Poland that launched construction against the backdrop of the COVID-19 outbreak, creating 300 local job opportunities during times of increased unemployment due to the pandemic.
Poland, as an emerging country in the global PV market, is one of the attractive destinations of investments in the renewable energy industry. Following the successful cooperation in Poland, SINO-CEEF, together with its local and international partners, will continue pursuing new opportunities in other countries along the “Belt and Road” initiative, in particular Poland, Hungary, Greece and other CEE countries, contributing to the "17+1" economic and trade cooperation.
About SINO-CEE Fund (SINO-CEEF)
SINO-CEEF is a private equity fund, registered in Luxembourg, focusing on creating longer-term value for the companies it invests in. The fund is pursuing majority and minority equity as well as mezzanine investments, thereby targeting infrastructure, manufacturing, consumer goods and services sectors.