Enea and PKO TFI will jointly invest in green energy
The largest the retail market investment fund company and the second-largest player in the power generation market in Poland intend to jointly invest in renewable energy sources. The presidents of PKO TFI and Enea S.A. have signed a letter of intent to cooperate on RES development in Poland.
Investment cooperation in the area of developing a dedicated closed-end investment fund, PKO Energia Odnawialna, is the primary objective of the letter of intent signed by Grzegorz Muszyński, PKO TFI president, and Paweł Majewski, Enea president.
Enea plans to engage in a Closed-end Investment Fund of Non-Public Assets, which will invest in shares of Portfolio Companies that build RES installations and earn profits from the production and sales of electricity or heat generated by these installations.
- The Enea Group is actively participating in the energy transition process. The concept of engaging in a dedicated RES Fund can relatively quickly expand our investment portfolio in the area of renewable energy sources. The synergy of our entities, based on experience, credibility and competence on both sides, can bring excellent results,” emphasizes Paweł Majewski, Enea president.
The Fund's concept is a response to the observed trend of energy transition, meeting the criteria of permanent change (Clear Trajectory, Decisive, Irreversible) and affecting all areas of life (STEEP: Social, Technological, Environmental, Economic, Political).
- Investment in renewable energy sources is one of our strategic directions, in line with the current market trends and challenges for the energy sector. The RES Fund model we are planning will not only bring profits to investors, but will contribute to making Poland's energy transition more dynamic. I am very pleased that the second-largest player in the energy production market in Poland, Enea S.A., is willing to cooperate in this innovative formula,” says Grzegorz Muszyński, PKO TFI president.
The Fund will strive to achieve its investment objectives by investing money derived from payments for Certificates made by investors. Its primary objective will be to develop a portfolio of RES installations and, as a result, generate income from the Fund's investments, particularly from investments in the shares of Portfolio Companies.
The Fund will operate on an arm's length basis. The Fund's control over the activities of the Portfolio Companies will be exercised through the exercise of the Fund's corporate rights under the provisions of the Commercial Company Code, as well as the Fund's powers as a shareholder or partner of the Portfolio Company, as enshrined in its articles of association or contracts, giving the Fund special control powers.
In connection with the signed letter of intent, representatives of PKO TFI, in cooperation with Enea, will proceed with further work and consultations on the establishment of the Fund.