Virya Energy Secures $99 Million from EBRD to Expand Polish Solar Portfolio
In a significant move for Poland’s renewable energy sector, Belgian developer Virya Energy has successfully secured a major equity investment of US$99 million (€85 million) from the European Bank for Reconstruction and Development (EBRD). This strategic funding is earmarked for the acquisition and large-scale expansion of a solar photovoltaic (PV) portfolio in Poland, marking a critical step in the country’s green energy transition.
The Landmark Development of Polish solar energy
The infusion of capital from the EBRD will empower Virya Renewables Poland, the company’s local subsidiary, to acquire development rights from Optima Wind. The financing is specifically targeted for the construction and operation of two major solar parks: SidÅ‚owo and Kikowo II.
Once completed, these projects are set to form the largest solar PV cluster in Poland and will rank among the most substantial in Europe. The combined annual output of the cluster is projected to reach an impressive 666GWh, providing a substantial boost to the nation’s clean energy supply.
A Partnership Beyond Capital for Polish solar energy
The EBRD’s involvement extends beyond simple equity financing. As part of the agreement, the bank will actively support Virya in strengthening its operational framework in Poland. This collaboration includes the implementation of a comprehensive corporate governance action plan and the development of a robust supply chain management system. These initiatives are designed to enhance operational oversight and fortify cybersecurity standards, ensuring the long-term resilience and security of the projects.
Virya Energy’s Expanding Ambitions in Polish solar energy
Virya Energy, which is jointly owned by the Colruyt Group and Korys (the Colruyt family’s investment firm), is a key player in the European renewable energy market. The company currently manages approximately 0.7GW of installed renewable capacity worldwide, with about 10% of that portfolio already located in Poland.
Operating across the entire renewable energy value chain—from power generation and distribution to green hydrogen—Virya has a diverse presence in Europe and Southeast Asia. This latest investment aligns perfectly with the company’s ambitious long-term strategy, which targets a global portfolio of at least 4.3GW by 2034. The development of the SidÅ‚owo and Kikowo II solar parks represents a major stride towards achieving that goal, solidifying Poland as a key market for Virya’s growth.
Source: PV-Tech
