Equinor Acquires Polish Renewables Company Wento
Equinor has completed an agreement to buy 100% of the shares in Polish onshore renewables developer Wento from the private equity firm Enterprise
Equinor has completed an agreement to buy 100% of the shares in Polish onshore renewables developer Wento from the private equity firm Enterprise Investors for EUR 91 million in enterprise value, before customary net cash adjustments. The acquisition supports Equinor’s effort to be a leading company in the energy transition and provides a strong platform for growth in the Polish energy market. Wento’s business plan includes a total net pipeline of around 1.6 gigawatts of solar projects in different stages of development.
Equinor’s ambition is to play an important role in Poland’s energy transition. This acquisition is also in line with our renewables strategy to gradually develop profitable onshore positions in select power markets.
Wento will be a subsidiary of Equinor with its team continuing to build its business for the future. The transaction agreements have been signed today, 5 May, and the transaction completed on the same day.