Augusta & Co, part of Mizuho Financial Group, one of the world’s largest financial institutions, is pleased to announce the sale of a 376 MWp operational solar photovoltaic (PV) portfolio in Poland, on behalf of a joint venture between Better Energy Holding A/S and Industriens Pension, to Qualitas Energy, a leading global investment and management platform focused on renewable energy, energy transition, and sustainable infrastructure. Augusta acted as exclusive sell-side financial advisor to the sellers, navigating a complex process amid Better Energy’s restructuring to deliver a successful exit from the Polish market.
The portfolio comprises nine operational solar PV plants located across Poland, with a combined installed capacity of 376 MWp. All assets were developed and constructed by Better Energy, reaching commercial operation between 2021 and 2024. Together, they generate over 400 GWh of clean energy annually, sufficient to supply approximately 210,000 Polish households.
The assets benefit from a robust and diversified revenue framework, combining long-term Contracts for Difference (CfDs) with power purchase agreements (PPAs) signed with industrial and investment-grade offtakers. Qualitas Energy intends to hybridise the assets with battery energy storage systems (BESS) in the coming months, supporting enhanced grid stability in the Polish market.
This transaction represents the first investment under Qualitas Energy VI, the firm’s latest flagship fund, currently in fundraising. It further strengthens Qualitas Energy’s established position in Poland and is one of the largest operational solar portfolio transactions ever completed in Poland.
Mark Augustenborg Ødum, CFO at Better Energy, commented: “This transaction is an important milestone for Better Energy following its reconstruction. It reflects the quality of the assets we have built in Poland and our ability to deliver a complex transaction in a demanding market environment. Augusta & Co were a valued adviser throughout the process and supported the successful execution of the transaction. We are pleased to hand over the portfolio to Qualitas Energy, whose ambition in Poland and plans to further optimise the assets make them a strong long-term owner.”
Simon Clement-Davies, Partner at Augusta & Co, commented: “This transaction is a testament to the quality of the assets Better Energy has built across the country in Poland, Navigating the sale process alongside a restructuring required creativity and focus from all parties, and we are delighted to have found in Qualitas Energy a buyer with both the conviction and the operational expertise to manage the portfolio in the long term with great success. We congratulate all parties on this outcome.”
Contacts:
Simon Clement-Davies: SClementDavies@augustaco.com
Nikita Chandrashekar: NChandrashekar@augustaco.com
Michael Rice: MRice@augustaco.com
Kirill Stockmeier: KStockmeier@augustaco.com