Modus Asset Management, a specialised renewables investor and Equinor, owner of Wento – leading onshore renewables developer in Poland have entered into a transaction whereby a fund managed by Modus Asset Management will acquire a 100% stake in a 28 MW turnkey portfolio of ground mounted solar photovoltaic farms developed by Wento. 

The portfolio was developed, commercialized and constructed by Wento, 100% owned by Equinor, and is consisting of 28 state of the art projects equipped with bifacial solar panels and a total installed capacity of 28 MW. All of the projects have been awarded a 15-year contract-for-difference (“CfD”) support mechanism in Poland, ensuring stability of revenue for the projects. Under the terms of the agreement, the value of the transaction will not be disclosed.

The acquisition was implemented through Modus Poland Solar Fund I (the “Fund”), managed by Modus Asset Management. To date the Fund has concluded acquisition transactions with multiple developers comprising 113 MW solar PV projects in Poland. The Fund continues its active investment phase, partnering with solar developers in Poland and acquiring turnkey or operational solar projects.

On 8 February 2021, Modus Asset Management launched Modus Remote Solar Fund I dedicated for informed investors and received permission to market its investment units in the Republic of Lithuania. The Bank of Lithuania is the supervision authority of the Fund, the depositary of the Fund is SEB bankas AB.

Modus Asset Management is planning to offer Modus Remote Solar Fund I investment units to Baltic investors. First closing is expected to take place in June 2021.

The Fund has a targeted commitment size of €20m and will invest in operational solar photovoltaic projects in Lithuania that are leased to clients via remote solar plant mechanism.

On 8 February 2021, Modus Asset Management launched Modus Remote Solar Fund I dedicated for informed investors and received permission to market its investment units in the Republic of Lithuania. The Bank of Lithuania is the supervision authority of the Fund, the depositary of the Fund is SEB bankas AB.

Modus Asset Management is planning to offer Modus Remote Solar Fund I investment units to Baltic investors. First closing is expected to take place in June 2021.

The Fund has a targeted commitment size of €20m and will invest in operational solar photovoltaic projects in Lithuania that are leased to clients via remote solar plant mechanism.

Specializuota atsinaujinančios energetikos fondų valdymo įmonė „Modus Asset Management“ sudarė sandorį su energetikos bendrove „Equinor“ dėl 100 proc. 28 MW galios saulės elektrinių portfelio Lenkijoje įsigijimo. Saulės jėgainių portfelį vystė ir statė „Equinor“ priklausantis „Wento“, vienas didžiausių atsinaujinančios energetikos vystytojų Lenkijoje.  

Portfelį įsigijo „Modus Asset Management“ valdomas fondas „Modus Poland Solar Fund I“, kurio bendra sudarytų sandorių su saulės elektrinių vystytojais Lenkijoje galia šiuo metu siekia 113 MW.   

Anot „Modus Asset Management“ vadovo Povilo Pečiulio, pastarasis sandoris – nuosekliai įgyvendinamos investicijų strategijos Lenkijoje dalis. Fondas ir toliau numato aktyvias investicijas kaimyninėje rinkoje, bendradarbiaudamas su saulės elektrinių projektų vystytojais bei įsigydamas užbaigtus arba jau veikiančius saulės elektrinių projektus.

On 24 February 2020, Modus Asset Management launched Modus Poland Solar Fund I dedicated for informed investors and received a permission to market its investment units in the Republic of Lithuania. The Bank of Lithuania is the supervision authority of the Fund, the depositary of the Fund is SEB bankas AB.

Modus Asset Management is planning to offer Modus Poland Solar Fund I investment units to Baltic investors. First closing is expected to take place in April 2020.

The Fund has a targeted commitment size of €30m and will invest in operational solar photovoltaic projects of small and utility scale located in the Poland. Duration of the fund is 4 years.

On 30 November 2019, Modus Asset Management completed the first closing at  € 10 million on it's "Modus Renewable Energy Lithuanian Investments" subfund by acquiring 6 solar photovoltaic energy projects based in Lithuania.

Modus Group, one of the largest group of companies in Lithuania, engaged in investment management in automotive, renewable energy, car sharing and other business areas, has set up the investment management company - Modus Asset Management. On 13 November 2017, the Bank of Lithuania granted an AIFM license to Modus Asset Management, which allows it to manage alternative investment funds dedicated to professional investors. Main investment targets of Modus Asset Management are renewable energy projects, which offer investors good risk and return balance as well as limited correlation to other investment classes.

On 18 June 2018, Modus Asset Management launched Modus Renewable Energy Fund I and received a permission to market its investment units in the Republic of Lithuania. The Bank of Lithuania is the supervision authority of the Fund, the depositary of the Fund is SEB bankas AB.

Modus Asset Management is planning to offer Modus Renewable Energy Fund I investment units to Baltic and Scandinavian investors. First closing is expected to take place at the year-end of 2018 with total investments of EUR 10 million. Modus Asset Management has already secured 50% of required investors’ commitments for the first closing of the Fund.

The Fund has a targeted size of €70m and will invest in operational renewable energy projects (solar photovoltaic, biogas and wind) of small and utility scale located in the EU (with a focus on Central Europe). Duration of the fund is 15 years, with targeted minimal return (IRR) of 8% and 6% annual dividend yield.