Israeli energy company Afcon Renewable Energy, a subsidiary of Afcon Holdings, has signed an agreement to acquire the rights to two solar power (PV) projects in advanced development located in the western region of Poland. Afcon Renewable Energy will complete the development of projects to the readiness-to-build (RTB) stage through signed development agreements with local contractors.

“The signing of the contract is the start of our joint project activities with Afcon, which could also be extended to other countries,” said Patrik Danz, Chief Sales Officer (CSO) of IBC SOLAR AG. “The sale to Afcon is only part of our project development in Poland, which comprises over 600 MW and is constantly expanding.”

The agreement with Afcon underlines the expansion of IBC SOLAR’s business activities in Poland. The company recently founded a new subsidiary in Poland and thus expanded its local capabilities.

“As a full-service provider, IBC SOLAR is an experienced partner for renewable energy projects from development and turnkey realization to operation and maintenance. And this applies not only to the solar park sector, but also to the residential sector, in which we have been successfully active in Poland for several years. As well as for the commercial and industrial sector in rooftop or adjacent installations with energy management solutions, where we focus our activities today,” says Wojciech Prokopowicz, Managing Director of IBC SOLAR Polska.

Renewable energies are attracting more and more attention in Poland. The countries electricity market is the largest in Eastern Europe and one of the developing markets in Europe. The declared objective is to reduce the carbon footprint in accordance with adopted European regulations, which leads to a rapid transition of electricity production in the country. The Polish government is targeting more than 30% electricity generation from renewables by 2030, reflecting growth of more than 50% in less than a decade.

Israel Raif, President of Afcon, said, “We are very pleased with our cooperation with IBC SOLAR. These two projects are a significant addition to our portfolio of projects in general and in Poland in particular. Afcon continues to invest in unique large-scale solar projects and this acquisition will position us as an important player in the renewable energy market in Europe.