Global infrastructure investor CVC DIF has agreed to sell Klara Renewables, a portfolio of six operational onshore wind farms in Poland with a combined installed capacity of 171 MW, to sustainable infrastructure investor Actis.
Although the financial value of the transaction has not been disclosed, the acquisition represents one of the more notable renewable energy transactions in Poland this year and reflects continued demand for operational wind assets offering stable, long-term revenues.
The Klara Renewables portfolio generates approximately 500 GWh of renewable electricity each year and operates under 15-year Contracts for Difference (CfDs) awarded by the Polish government, providing predictable income through fixed-price support mechanisms. During CVC DIF’s ownership, the wind farms have achieved an average technical availability of around 99%, supported by Vestas turbine technology and long-term operations and maintenance agreements.
CVC DIF acquired the six projects individually at the ready-to-build stage between 2020 and 2021 through its DIF Infrastructure VI fund. The company subsequently managed procurement, project financing, construction and commissioning before bringing the assets into commercial operation. The sale completes a full investment cycle, with value created through development, construction and operational optimisation.
Andrew Freeman, Partner and Head of Divestments at CVC DIF, said: “We are delighted to announce the divestment of Klara Renewables, a high-quality portfolio that we have taken from ready-to-build to full operation. This transaction is a strong example of the value our hands-on asset management approach can create, delivering attractive returns for our investors while advancing the energy transition in Central and Eastern Europe.”
Founded in the Netherlands, DIF Capital Partners built a strong reputation as one of Europe’s leading infrastructure investors before becoming part of CVC, one of the world’s largest private markets investment managers, in 2023. Today, CVC DIF invests across renewable energy, transport, utilities and digital infrastructure, managing assets throughout Europe, North America and Australia. Its renewable energy portfolio includes onshore wind, solar PV, battery energy storage systems, district heating networks and other infrastructure supporting the transition to low-carbon energy systems.
Poland has become an increasingly important market within CVC DIF’s European strategy. Over the past decade, the country has emerged as one of Central and Eastern Europe’s largest renewable energy markets, driven by rising electricity demand, the gradual retirement of coal-fired generation and significant investment in transmission infrastructure. The government’s CfD support scheme has provided investors with greater revenue certainty, encouraging substantial deployment of utility-scale renewable energy projects.
For Actis, the acquisition further strengthens its growing renewable energy portfolio in Europe. The global investor has built one of the industry’s most recognised sustainable infrastructure platforms, with investments spanning renewable power generation, electricity transmission and distribution, digital infrastructure and real estate.
Actis has invested in more than 70 GW of power generation projects globally over the past two decades, covering onshore wind, solar photovoltaics, gas-fired generation and electricity networks across Asia, Africa, Latin America and, increasingly, Europe. Since becoming part of General Atlantic in 2024, the firm has accelerated its investment activity across developed markets while continuing to focus on infrastructure supporting decarbonisation and economic growth.
The acquisition reflects a broader trend across Europe’s renewable energy sector, where institutional investors continue to compete for operational assets offering long-term contracted revenues. While higher financing costs have slowed some new developments, fully operational wind and solar portfolios with stable cash flows remain highly attractive to pension funds, infrastructure investors and sovereign wealth funds seeking predictable long-term returns.
The Voice of Renewables understands that Poland is expected to remain one of Europe’s most active renewable energy investment markets over the coming decade. Continued expansion of renewable generation, electricity storage, transmission infrastructure and grid modernisation is creating significant opportunities for long-term infrastructure investors as the country works to reduce its dependence on coal and strengthen energy security. Transactions involving mature operating assets such as Klara Renewables are likely to become increasingly common as early-stage developers and infrastructure funds recycle capital into the next generation of renewable energy projects.
CVC DIF was advised on the transaction by PwC on financial matters and Dentons as legal adviser. Completion of the transaction remains subject to customary closing conditions.
