Vortex Energy, a leading renewable energy company in Poland has commenced construction of a portfolio of projects, including 53 MW of onshore wind and 57 MW of PV solar with a total equity commitment of approximately $123m. This is in alignment with Vitol’s commitment to deploy $1bn of capital in renewable energy in Poland over the next five years, as announced in January 2023 following its acquisition of Vortex Energy. All projects are scheduled for completion in 2024/2025.
The completed PV and wind projects will provide around 180 GWh of energy annually, covering the needs of 93,000 households and cutting around 126,000 tons of CO2 emissions from fossil fuels each year. This not only a contributes to the development of the Polish renewable energy market, but is an important step towards achieving climate neutrality.
Construction will be managed by an experienced commercial and technical Vortex team alongside its contract partners: Nomad Electric, which is responsible for the engineering, procurement and construction (EPC) delivery on the 57 MW PV solar portfolio, and Nordex, which will supply turbines for the onshore wind projects. P&Q will provide the balance of plant (BoP) contract for delivery of the onshore wind projects, Jastrowie and Okonek, which have a total capacity of 53 MW.
Vortex Energy is a leading renewable energy company in Poland. To date, it has delivered over 450 MW of operational renewable generation capacity in wind and solar, and has a development pipeline of over 3 GW of wind and solar and 2 GW of battery energy storage. The commencement of construction of 110 MW in Poland marks a new pathway towards becoming a leading renewables independent power producer (IPP) in Poland and in Europe.
Justine Ryan, Head of Renewables EMEA, Vitol: “Renewable power is central to Europe’s decarbonisation strategy. Vortex has the potential to make a significant contribution to reducing emissions and providing energy security through sustainable and affordable electricity in Poland and wider Europe. It is a strong and exciting business for Vitol and we will look to grow it further in Poland and expand it with sustainable generation opportunities across the region.”
Maciej Peplinski, CEO of Vortex Energy: “The strategic change of business model opens a new chapter in the history of the Vortex Energy Group, enabling the construction of wind and PV farms with the intention of growing Vortex as one of the leading independent power producers in Poland. We are steadily increasing the share of green energy in the Polish energy mix, and in doing so we are taking further steps towards a secure and sustainable future.”
Information about the Companies
Vortex Energy, during its 17-year presence on the RES market, has completed projects with a total capacity of 458 MW in wind and PV projects. Current projects portfolio contains of over 3 GW in both wind and PV at different stages of project development and more than 2 GW of capacity in energy storage projects.
A world leader in energy, expertly serving the world’s energy markets for over 55 years. A business built on long-term partnerships, a focus on delivering solutions and prudent financial management. Supporting sustainable energy solutions, Vitol has committed over $2.2bn of capital to energy transition to date.