EI backs wind energy newco

The equity, invested from Polish Enterprise Fund VI, which closed at €658m in 2006, will be used to plan and prepare wind farm projects. These will subsequently be financed and constructed using further equity from the fund and external debt provision. A management team has been recruited from the wind energy industry.

EI stated that it considers expanding company operations to other CEE markets, including the Romanian wind energy market. It has planned an exit route for future wind farms to strategic or financial investors looking for long-term profits.

Debt
EI intends to leverage wind farm projects under the newco with senior debt.

Company
Wento, established in 2011, is a holding company, which plans and prepares investments in future wind farms. It currently examines around a dozen projects, and is performing late-stage negotiations and due diligence on one of these, which will have an output of around 200 MW.

People
Managing partner Michał Rusiecki worked on the deal for Enterprise Investors.

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