Aberdeen Standard Investments (ASI) and Green Genius, part of the Modus Group international group of companies, have finalised a transaction whereby ASI will acquire a 100% stake in a 40.4 MW turnkey portfolio of ground mounted solar photovoltaic (“PV”) farms from Green Genius.

The portfolio was developed and constructed by Green Genius and consists of 41 state of the art individual projects with a total installed capacity of 40.4 MW. All of the projects have been awarded a 15 year contract-for-difference (“CfD”) support mechanism ensuring stability of electricity pricing for the projects. The portfolio is entirely located in Poland, predominantly in the west and north-west of the country. On agreement between the parties, the value of the transaction will not be disclosed.

Dominic Helmsley, Head of Economic Infrastructure, Aberdeen Standard Investments, said: “In July 2019 we made our first investment in the Polish renewable infrastructure market. Over the course of just over a year, our solar PV portfolio in Poland has grown to over 350 MW – which we believe to be the single largest portfolio in the market. We are deeply committed to play an active role in supporting Poland’s transition to a renewable energy future. We are pleased to further expand our cooperation with Green Genius while continuing to invest into premium infrastructure assets in Europe. In particular, we focus on projects which fulfil our robust environmental, social and governance (ESG) criteria, of which the solar PV portfolio in Poland is a prime example.”

It was the second transaction between ASI and Green Genius. In July 2019, ASI acquired a portfolio of 45.4 MW solar PV farms from Green Genius which represented ASI’s first investment in the renewable infrastructure sector in Poland.

Ruslan Sklepovič, CEO of Green Genius and Member of the Board at Modus Group, responsible for the area of renewable energy, added: During the last few years we have witnessed the rapid growth of the renewable energy sector in Poland and Green Genius is one of the biggest developers in this market. Thanks to our presence for a number of years we have accumulated robust know-how in renewable energy project development and our successful partnership with Aberdeen Standard Investments is proof that Green Genius is a viable partner for leading global companies. Poland remains our key strategic market and we have already begun the construction process for a third portfolio of solar PV farms. We are also in the process of acquiring projects for a fourth portfolio of solar PV farms and preparing for the upcoming renewable energy auction.”

Upon the implementation of the third solar park portfolio, the total capacity of solar projects installed by Green Genius in Poland will amount to almost 130 MW. They will generate more than 136 GWh CO2 free energy annually. This is equivalent to the amount of CO2 that approximately 1.8 million 10-year-old trees can absorb in a year.

The portfolio was acquired by ASI’s SL Capital Infrastructure II fund (“SLCI II”). The company’s Economic Infrastructure programme focuses on investing in core infrastructure assets in Europe, and already holds 12 other assets including: a gas distribution business in Finland, a portfolio of hydro-electric plants in Norway, four rolling stock assets in the UK, a stake in an offshore gas transmission pipeline in the Netherlands, stakes in two district heating businesses in Finland, and refined hydrocarbon storage assets in Germany and the UK.

CMS, one of the largest law firms in the world, acted as a legal adviser to Green Genius in the acquisition process.

For further information please contact:

Green Genius / Modus Group:
Ugnė Bartasiute
Head of Communications
+370 614 74046

Aberdeen Standard Investments:
Debbie Cowe
Global Media Manager
+44 (0) 7711 774017

Notes to editors:

About Aberdeen Standard Investments:

  • Aberdeen Standard Investments is a global asset manager dedicated to creating long-term value for our clients, and is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments. With over 1,000 investment professionals, we manage £486.5 billion of assets worldwide. We have clients in c.80 countries supported by 50 relationship offices. This ensures we are close to our clients and the markets in which we invest.  (*as of 31 December 2019).
  • We are high-conviction, long-term investors who believe teamwork and collaboration are the key to delivering repeatable, superior investment performance.
  • Standard Life Aberdeen plc is headquartered in Scotland. It has around 1.2 million shareholders and is listed on the London Stock Exchange.
  • You can access the Aberdeen Standard Investments media centre here: https://www.aberdeenstandard.com/news-and-media.

More information: www.aberdeenstandard.com

About Green Genius:

  • Green Genius is a renewable energy company developing solar and biogas projects in 8 European markets for more than 10 years.
  • Last year, Green Genius investment reached EUR 136 million. Compared to 2018, this number rose by 170 percent.
  • Green Genius is part of international group of companies Modus Group. The key areas of Group’s activities are renewable energy (Green Genius), innovative mobility services (CityBee), and automotive business.

More information: www.greengenius.eu and www.modus.group

Important Information:

For Professional Investors only:

The value of investments, and the income from them, can go down as well as up and you may get back less than the amount invested. Past performance is not a guide to future results. Tax treatment depends on the individual circumstances of each investor and may be subject to change in the future. We recommend that you seek financial advice prior to making an investment decision.

Aberdeen Standard Investments is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments.

The details contained here are for information purposes only and should not be considered as an offer, investment recommendation, or solicitation to deal in any investments or funds and does not constitute investment research, investment recommendation or investment advice in any jurisdiction. Any research or analysis used to derive, or in relation to, the above information has been procured by us for our own use, without taking into account the investment objectives, financial situation or particular needs of any specific investor, and may have been acted on for own purpose. No warranty is given as to the accuracy, adequacy or completeness of the information contained in this communication and no liability for errors or omissions in such information. Readers must make assessments to the relevance, accuracy and adequacies of the information contained in this communication and make independent investigations, as they may consider necessary or appropriate for the purpose of such assessments. Any opinion or estimate contained in this communication, are made on a general basis.   No information contained herein constitutes investment, tax, legal or any other advice, or an invitation to apply for securities in any jurisdiction where such an offer or invitation is unlawful, or in which the person making such an offer is not qualified to do so.

United Kingdom issued by Aberdeen Asset Managers Limited. Authorised and regulated by the Financial Conduct Authority in the United Kingdom. Registered Office: 10 Queen’s Terrace, Aberdeen AB10 1XL. Registered in Scotland No. 108419.

Standard Life Investments companies: Standard Life Investments Limited is registered in Scotland (SC123321) at 1 George Street, Edinburgh EH2 2LL. Standard Life Investments Limited is authorised and regulated in the UK by the Financial Conduct Authority.

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