Calik Renewables has acquired a

255 MW

operational

solar PV portfolio in Poland

from

PAD RES Group

, with the transaction effective

1-Jan-2026

. The assets include the

105 MW Sztum

project and the

150 MW Stargard

project, both fully operational and grid-connected.

The key feature is not capacity, but structure.

PAD RES remains as asset manager post-sale

and simultaneously signs a

cooperation agreement

to develop

energy storage and wind

projects under a

cable pooling model

aligned with Calik’s long-term strategy. Control transfers, execution continuity does not.

This signals buyers are prioritizing

operational stability and optionality

over clean exits. Retaining the original developer reduces operational risk on day one, while preserving local development capability for the next build-out phase. The transaction effectively bundles operating cash flow with a forward pipeline.

Commercially, this matters in Poland, where grid constraints and permitting timelines reward players who can

stack assets on existing connections

. Cable pooling with storage and wind allows Calik to increase utilization without reopening interconnection risk, while PAD RES monetizes capital but stays embedded in future upside.

The power sales structure reinforces this. Electricity from

Sztum

is sold to

Hekla Energy

, anchoring revenues while leaving room for optimization as storage is added. The deal reflects a market where buyers are underwriting

platform behavior

, not just assets.

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