PKO TFI, in close cooperation with PKO Bank Polski, has launched a new special fund: PKO Renewable Energy - Fizan (closed-end investment fund). The goal of the new fund is to generate long-term relatively stable rates of return for its participants based on cash flows from wind assets held - primarily wind farms and photovoltaic installations.
“This is the first fully Polish commercial infrastructural fund, where the main investments will be wind farms and photovoltaic installations. By means of investments exclusively in assets located in Poland, we wish to take active part in the process of energy transformation in Poland. The first participant of the fund will be PKO Bank Polski, which is ultimately planning to invest even up to PLN 500 million in the fund,”
says Piotr Żochowski, CEO of PKO TFI.
We are planning fully independent investments, but we also do not exclude projects with other entities. PKO TFI is open to cooperation in a joint-venture formula with first-rate industry partners, both Polish and foreign. As the PKO Bank Polski Group, following the negotiations with our clients, we can see that nowadays the primarily obstacle in the development of the domestic RES market is the limited access to capital. PKO Renewable Energy Fizan, as a potential purchaser of assets related to renewable energy, will help mitigate these limitations.
explains Sławomir Sklinda, Ph.D., manager of the new fund
The model size of a single investment is approx. 50 MW, yet the main criterion for selection of deposits will be their economic attraction. We allow for larger and smaller projects.
adds Sławomir Sklinda, Ph.D.
PKO Investment Fund Society (TFI) S.A. is one of the largest capital market investment fund societies in Poland. It belongs to PKO Bank Polski Capital Group. It was set up 1997 and manages funds entrusted by over a million of individual and corporate investors.
PKO Bank Polski is the indisputable leader at the Polish banking sector. After three quarters of 2020, its’ consolidated net profit amounted to PLN 2.02 billion and the value of assets PLN 377 billion. The Bank is the basic supplier of financial services for all segments of clients, having highest shares at the market of deposits (18.4%), credit (17.6%), lease (11.2%) and investment funds for natural persons (22.2%). Having over 9.55 million pay cards, the Bank is the largest issuer of debit and credit cards in Poland. Thanks to the development of digital tools, including IKO, which has been activated almost 5 million times by the end of the third quarter of 2020, PKO Bank Polski has become the most mobile bank in Poland. The Capital Group companies reinforce the Bank’s strong position. PKO Bank Polski Brokerage House is the leader with respect to the number and the value of IPO and SPO transactions on the capital market.
