BXF Energia to build a 60 MW photovoltaic farm

BXF Energia has acquired 100% of the shares in a company implementing a project to build a photovoltaic farm with a capacity of up to 60 MW.

BXF Energia has acquired 100% of the shares in a company implementing a project to build a photovoltaic farm with a capacity of up to 60 MW. The Azalia project involves the construction of a photovoltaic farm with a total capacity of up to 60 MW in the Subcarpathian region near Rzeszow. The location conditions allow for an estimated annual production of the farm at about 65 GWh. The project has all the necessary administrative permits to start construction work and connect the project to the grid.

"Acquiring the Azalia project is another step in implementing our strategy to build a portfolio of our own renewable energy sources with a capacity of 500 MW. We will start construction after the May holiday to enjoy the first production of green energy from this project next year. With this transaction, the group has increased its capacity in the construction and operation phase to about 80 MW. So far, the Budimex Group's portfolio in renewable energy projects has already grown by the Magnolia Wind Farm in Wielkopolska, the Kamelia photovoltaic farm in Mszczonow near Warsaw, and several smaller projects. When BXF Energia partners – Budimex and Ferrovial – signed the partnership agreement a year ago, we set ourselves an ambitious goal which we are progressively achieving. In this time, we have built our own team that can develop projects from scratch, build them, and operate them," says Piotr Świecki, CEO of BXF Energia.

BXF Energia is a joint venture between Budimex and the Spanish company Ferrovial. Budimex holds a majority stake (51%) in the entity. BXF Energia is executing Budimex Group's diversification strategy by developing a new area of its operations. The company's task is also to produce green energy for external customers.

"Regardless of the Azalia project transaction, we are independently developing wind and photovoltaic farm projects. Currently, we have 420 MW of PV projects and 410 MW of wind projects at various stages of development in our portfolio. We remain open to cooperation with landowners and partners with whom we can jointly develop the portfolio," says Tomasz Grzęda, a member of the BXF Energia board responsible for project development.

The company plans to issue a permit to start construction work in May 2024 to bring the power plant online in the second half of 2025. Budimex SA will be the contractor for the installation.

BUDIMEX SA is a company with a fifty-five-year tradition, significantly contributing to Poland's economic development. Since 1995, the company has been listed on the Warsaw Stock Exchange, with the Spanish firm Ferrovial as its strategic investor. Since 2011, Budimex has been included in the index of the most responsible stock market companies. The Budimex Capital Group includes Mostostal Kraków, BXF Energia, Budimex Mobility, and FBSerwis. The group has over 7000 highly specialized employees performing services in road, rail, cubature, hydraulic, energy, industrial, and military investment implementation. Additionally, the business profile includes service activities (waste management and road infrastructure) and investments in the renewable energy sector.

Ferrovial, a leading global private investor in the transport infrastructure sector, employs about 57,000 people and operates in over 25 countries. Ferrovial has been a strategic investor of Budimex since 2000, holding a 50.1% stake in our company. Key assets managed by it include the Canadian highway 407ETR and London's Heathrow Airport. The company also provides municipal services to over 800 cities in Spain and millions of passengers of the Madrid metro.

Ferrovial's business model focuses on integrated infrastructure management. It conducts investments in the areas of DBFOM (design, build, finance, operate, and maintain). Ferrovial's business lines include services, highways, construction, airports, and energy.