Wento’s business is currently divided into two lines – typical RES asset development and construction (wind and PV) and “new energy” business model where Wento engages in analyzing the potential in energy solutions based on batteries and storage assets as well as in Demand Side Response.

In addition, since December 2015 untill August 2020, Wento operated a 36MW wind farm located in Central Poland. This wind farm was developed, constructed, financed and operated by the Wento team, and then sold to one of the largest Polish utility company – PGE S.A.

The business line focused around RES generates the return on equity invested in the development and optionally the construction phase of wind or PV projects. When developing greenfield or acquiring fully developed projects, Wento subsequently takes the responsibility for securing the stable and predictable cash flows: either by 15-year long Contracts for Difference (CfD), assigned in the “reverse auctions” (the lowest bid wins), organized by the Polish Energy Regulatory Office (ERO) or through a long-term power purchase agreement (PPA) with a reputable off-taker.

At the same time, through an organized competitive process, Wento offers the projects to strategic or long-term financial investors. Once the CfD or PPA are secured, the projects are being sold to the selected investor. For those willing to acquire turn-key projects, Wento is able to arrange the financing of the construction phase (under the bridge finance or project finance formula), secure the procurement of equipment, construct and deliver the project on a turn-key basis (and also provide O&M and commercial support in the operational phase).

Wento was established in late 2011, after almost a year of market research and analysis done by Enterprise Investors and after assembling the team of the most experienced Polish professionals from the renewable energy industry. Now, we are a part of Equinor - formerly Statoil (www.equinor.pl), which is 67% owned by the Norwegian state. Equinor has approximately 21 000 employees in over 30 countries worldwide. It is one of the world's largest operators of offshore wind farms (in the Polish territorial waters it has projects with a capacity of more than 1,400 MW) and is gradually increasing its involvement in other sectors of renewable energy sources.

Prior to 2016, Wento’s investment focus was mainly on medium-sized (20-50 MW) wind farm projects, where it used its equity during the construction phase of a fully developed wind farm project, creating tangible assets, which upon completion and start-up were sold to strategic investors such as local and foreign utilities or financial investors interested in holding such assets for a longer-term. As a result of improving the economics of photovoltaics and regulatory support for PV installations, in 2015, Wento started to build a dedicated PV team and over the last few years has grown its PV business unit into one of the leaders on the Polish solar PV market. So far, we have prepared more than 500MW of PV projects for construction, of which as many as 489MW have been successful in the auctions announced so far since 2016 by the President of the ERO. Of these projects, around 200MW have already been built or are under construction. This makes Wento one of the largest investors among PV and wind project developers in the Polish market.