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PHN Group enters the photovoltaic market

COMPANIESPHN Group enters the photovoltaic market

Polski Holding Nieruchomości (PHN) is investing in renewable energy sources, developing a new business line i.e. the photovoltaic segment. The first farm with almost 28 MW of installed power will be located near Owińska in the Czerwonak commune in Wielkopolska. The company has received the terms of connecting the planned renewable energy installation to the power grid, a crucial document for the implementation of the investment.

PHN Group, one of the leaders in the real estate market in Poland in terms of investment asset value, is striving to optimize the use of its land portfolio and will soon launch a new business line – the large-scale professional photovoltaic segment. Production of energy from the company’s own renewable energy sources (RES) will be one of the cornerstones of the future ESG strategy. The green energy produced in solar farms and hybrid installations will be used for the energy needs of the PHN Group. Planned investments may help reduce energy purchase costs, while simultaneously reducing emissions from owned assets, benefitting both tenants and the natural environment.

PHN Group owns properties for photovoltaic projects totaling around 60 MW of installed power. In selected locations, the launch of installations promoting hybrid solutions that use not only solar energy, but also wind and energy storage, is planned. This will allow for optimal use of connection power, with increased production of green energy. The first photovoltaic power plant with a power of almost 28 MW will be located on approximately 30 ha of low-quality farmland owned by the PHN Group near Owińska in the Czerwonak commune, about 8 km north of the capital of Wielkopolska.

“Our investments in RES will contribute to increasing the share of green energy in the national energy mix, reducing the use of fossil fuels and helping our customers meet ESG criteria. The green energy produced should cover most of our demand, significantly reducing the carbon footprint and, in particular, our operational costs related to rising energy prices. We plan to implement the investment with our own funds and on the basis of debt financing. Thanks to the fact that the PV Czerwonak and our next farms will be built on our own land, investment expenditures and the costs of maintaining these installations will be lower than in the case of competitive projects. This will enable us to generate higher rates of return and the possible commercialization of part of the investment,” said Marcin Mazurek, President of the PHN Board.

The anticipated energy production from the first, and largest photovoltaic installation in the PHN portfolio, is about 30 GWh per year. The new PV installation belonging to PHN will prevent the emission of approximately 24.4 thousand tons of carbon dioxide (CO2) into the atmosphere annually.

“Preparatory work for the investment in the large-scale PV Czerwonak farm, which began over a year ago and is at an advanced stage, e.g. the project has already received a positive environmental conditions decision. PHN’s receipt of the connection terms to the power grid, which is the most important milestone in large-scale photovoltaic investments, is a great satisfaction for us and proof that we can also develop new business lines in accordance with ESG. We hope that we will soon be able to boast about initiated realizing this venture. At the same time, we are working on the projects of the next photovoltaic farms, at least one of which will operate in a hybrid system with energy storage,” emphasized Piotr Przednowek, Member of the PHN Board for Development.

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