RPC, Tundra set up 1-GW onshore wind JV for Polish market

London-based renewable energy investment platform Renewable Power Capital (RPC) has joined forces with Poland’s Tundra Advisory to develop a pipeline of Polish onshore wind projects with a combined capacity of up to 1 GW.

The companies have signed a joint venture (JV) deal and are waiting for clearance by Polish regulators, they said on Monday.

Under the plan, RPC will provide a “highly flexible” source of long-term funding for the initiative. The first potential sites for projects totalling more than 500 MW have already been identified.

When fully installed, the target capacity will generate electricity for more than one million homes in Poland, the duo estimates.

The agreement marks RPC’s entry into the onshore wind market in Poland and is its first deal in the Central and Eastern European region. The company is backed by CPP Investments which invests the assets of the Canada Pension Plan. It has a portfolio of Finnish and Swedish wind farms, a 3-GW project pipeline in Spain and a 1-GW battery storage JV with Britain’s Eelpower.

Tundra, owned by Spanish sustainability-focused investor Taiga Mistral, has been active in the Polish renewable energy segment for more than 15 years and installed over 300 MW of onshore wind and solar parks.

“Poland has the potential to be one of Europe’s largest onshore wind markets, and we are pleased to be working with the very experienced team at Tundra to unlock this,” said Mariano Berges, Chief Commercial and Technical Officer at RPC.

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