PAD RES

What PAD RES does

PAD RES (Pad Res Development Sp. z o.o.) is a Warsaw-based renewable energy project developer founded in 2010, specializing in utility-scale photovoltaic and wind farm development across Poland. The company manages the full project lifecycle — from greenfield site identification, land lease negotiation, and administrative permitting through grid connection agreements, EPC construction, and long-term asset management. Since a 2021 ownership transition in which Griffin Capital Partners and Kajima Europe acquired a 72% controlling stake, PAD RES has scaled rapidly, with the team having developed over 1 GW of total project capacity and the current portfolio exceeding 600 MW across PV, wind, and emerging cable-pooling/BESS hybrid configurations.

The business operates on a portfolio rotation model combining one-time project sales to strategic acquirers (Çalık Renewables, EDP Renewables, Columbus Energy, Sun Farming, ERG Renew) with retained IPP ownership and recurring asset management services. Revenue is also generated through flexible Power Purchase Agreements (physical and financial/virtual PPA variants) offered to corporate and industrial energy buyers, as well as development fees from acquiring third-party projects at various stages and advancing them to construction-ready or operational status. Land lease agreements with agricultural landowners provide the upstream land supply, with strict site criteria (minimum 1.5 ha for PV, minimum 700m setback for wind).

PAD RES's competitive positioning rests on deep regulatory expertise in Polish permitting (notably in securing scarce grid connection conditions, where over 95% of applications nationally are rejected), a diversified EPC contractor base (Electrum, Inplag, ONDE S.A.), and institutional financing relationships with Santander Bank Polska, Bank Millennium, UniCredit, and the Polish Development Fund (PFR). Recent milestones include energization of 251 MW of PV capacity in Q2 2025, a 100% win rate on 12 bids in the July 2025 URE auction (154.5 MW contracted), a January 2026 sale of a 255 MW operational portfolio to Çalık Renewables, and a PLN 637 million syndicated debt facility in January 2026. The company is now extending into cable-pooling models combining PV, wind, and battery energy storage systems as the next growth vector.

Name

PAD RES

Legal name

Pad Res Development Sp. z o.o

Website

https://pad-res.pl

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

PAD RES is a Warsaw-based renewable energy developer founded in 2010, majority-owned by Griffin Capital Partners and Kajima Europe. The company develops utility-scale PV, wind, and hybrid storage projects across Poland, generating revenue from project sales, asset management, and PPAs.

Ownership category

akta.pro rank

Product category

Renewable Energy Project Development

akta.pro primary industry

Utility-Scale Generator PPAs (Project Offtake) (EUAGADAB)

akta.pro secondary industries

C&I PPAs & Virtual PPAs (VPPA) Origination & Management (EUAGACAF), Contracts for Differences (CfDs) & Virtual PPAs (VPPAs) (EUAGADAH), Hybrid PPAs (Renewables + Storage) & Firm Renewable Products (EUAGADAI)

Keywords

• Renewable energy development
• Photovoltaic project development
• Wind farm development
• Power purchase agreements
• Renewable asset management

Headquarters

HQ city

Warszawa

HQ country

Poland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Project sales: PAD RES develops utility-scale PV and wind projects and sells operational assets to strategic acquirers (e.g., Çalık Renewables, Enea, Columbus Energy). Revenue is generated from the development margin and any appreciation in project value from greenfield through construction to operational status. This is a one-time capital event per project.
2. Asset management services: Following project sales, PAD RES continues providing asset management services for sold projects, generating recurring service fees. After the Çalık Renewables transaction, the company retained asset management responsibilities for the sold 255 MW portfolio.
3. Power Purchase Agreements (PPA): PAD RES offers flexible PPA contracts to energy buyers (corporate and industrial offtakers), providing fixed and predictable electricity prices. PPAs generate long-term contractual revenue from energy sales.
4. Project acquisition and development fees: PAD RES acquires projects at various stages of development from third-party developers, develops them to RTB or operational status, and either sells or retains them. Revenue is generated through the development margin embedded in the project value uplift.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

PAD RES is a Polish renewable energy project developer that acquires land, obtains permits and grid connections, finances construction, and either sells operational assets to strategic buyers or signs long-term Power Purchase Agreements (PPAs) with corporate energy buyers. The company's portfolio centers on utility-scale photovoltaic (PV) farms with growing wind farm and battery energy storage (BESS) capacity under a cable pooling model, executed via a 72%-owned joint venture between Kajima Partnerships and Griffin Capital Partners.

Product overview

PAD RES is a Polish renewable energy developer operating as a joint venture (Griffin Capital Partners and Kajima Europe) since 2021. The company offers a comprehensive portfolio of renewable energy solutions centered around three core product lines: (1) Farmy fotowoltaiczne (Photovoltaic Farms) with projects ranging from 6 MW to 150 MW across Poland; (2) Farmy wiatrowe (Wind Farms) with capacities from 14 MW to 36 MW featuring Vestas turbines; and (3) Magazyny energii (Energy Storage/BESS) integrated with existing installations. Services include PPA agreements (physical and virtual variants), project acquisition at any development stage, and land lease for PV and wind installations. The company also explores alternative energy sources as part of its innovation strategy. Projects are developed, built, and operated across Poland with grid connection agreements.

Differentiator

Problem solved

Functional benefit

Products and services

• Photovoltaic Farms (Farmy fotowoltaiczne) Development, construction, and operation of utility-scale solar photovoltaic farms across Poland, with individual projects ranging from 6 MW to 150 MW capacity. Customers include strategic energy acquirers purchasing operational portfolios, corporate energy buyers contracting via PPAs, and Polish energy regulators through URE auction contracting.
• Wind Farms (Farmy wiatrowe) Development and operation of onshore wind farms in Poland, with individual projects ranging from 14 MW to 36 MW featuring Vestas turbines (V90 and V100 2 MW models). Buyers include strategic energy companies acquiring operational wind portfolios.
• Power Purchase Agreement (PPA) Long-term electricity purchase agreements providing corporate and industrial energy buyers with fixed and predictable electricity prices. Available in physical PPA and financial/virtual PPA variants, with flexible pricing and quantity structures tailored to individual buyer needs.
• Project Acquisition (Kupno projektu) Acquisition service for third-party renewable energy project developers and owners seeking to sell or co-develop OZE projects in Poland. PAD RES acquires projects at any development stage, particularly those with grid connection conditions, and develops them to RTB or operational status.
• Land Lease (Dzierżawa ziemi) Land lease service for agricultural landowners in Poland, covering site evaluation, permitting, construction, and long-term operation of renewable energy installations. Provides landowners with long-term stable rental income without development risk.

Quantifiable outcome

• Over 1 GW of total project capacity developed by the PAD RES team to date
• +6 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Twelve partnerships are on record, tiered core and supporting.

• ElectrumcoreImplementation/ SI/ Consulting PartnerElectrum is a long-standing EPC (Engineering, Procurement and Construction) partner for PAD RES. The companies have collaborated on multiple PV projects including Genowefa (35 MW) and Koszyki MV1 & MV2 (60 MW). For the 2026 construction of Krapkowice (90 MW) and Strzelce Opolskie (18 MW), PAD RES again contracted Electrum under an EPC formula.
• InplagsupportingImplementation/ SI/ Consulting PartnerInplag was selected as the general contractor (EPC) for the PV Gromadka project (25 MW) under an EPC formula, marking a new working relationship for PAD RES that diversifies the company's construction partner base.
• ONDE S.A.supportingImplementation/ SI/ Consulting PartnerPAD RES signed contracts with ONDE S.A. for the general construction of two PV power plants: Luszowice (6 MW) and Braniewo (6.23 MW), expanding its contractor network for smaller-scale PV installations.
• VestassupportingTechnology or IntegrationVestas has supplied wind turbines for PAD RES wind farm projects, including 27 Vestas V90 turbines for the Iłża Wind Farm and 18 Vestas V100 2 MW turbines for the Laszki Wind Farm (36 MW).
• Çalık RenewablescoreStrategic or Co-development PartnerIn February 2026, Çalık Renewables acquired a 255 MW operational PV portfolio from PAD RES Group (projects in Sztum and Stargard), representing Çalık Renewables' first renewable energy investment in Poland. Concurrently, the companies signed a cooperation agreement under which PAD RES will develop BESS and wind projects under the cable pooling model for Çalık Renewables' long-term investment plans in Poland.
• ERG Renew SpAsupportingStrategic or Co-development PartnerCollaboration began in 2013 with Italian energy company ERG Renew SpA. In 2014/2015, two wind projects were realized: Szydłowo (14 MW) and Słupia (26 MW), both with GPO substations. PAD RES acted as proxy investor on behalf of ERG for construction supervision.
• EDP Renewables PolskasupportingChannel Partner/ Reseller/ DistributorIn 2011, PAD RES completed its first successful transaction: selling the Mazovia Wind Farm project (120 MW, 80 MW operational) to EDP Renewables Polska. In 2013, the Iłża Wind Farm (54 MW) was built by EDP Renewables Polska and GEO Renewables.
• Columbus EnergysupportingChannel Partner/ Reseller/ DistributorAt the end of 2019, PAD RES participated in one of the largest transactions on the Polish renewable energy market, finalizing the sale of 206 MW of PV projects to Columbus Energy. In 2020, joint construction of PV farms totaling 28 MW was completed with Columbus Energy.
• Sun FarmingsupportingChannel Partner/ Reseller/ DistributorIn December 2020, PAD RES sold 40 PV projects to Sun Farming, continuing its project rotation strategy to finance further pipeline development.
• SenvionsupportingTechnology or IntegrationSenvion is listed as a business partner of PAD RES, likely as a historical turbine supplier for wind farm projects.
• Clifford ChancesupportingImplementation/ SI/ Consulting PartnerClifford Chance acted as legal advisor alongside DZP on Çalık Renewables' acquisition of the 255 MW PV portfolio from PAD RES Group.
• DZP (Dentons)supportingImplementation/ SI/ Consulting PartnerDZP (Dentons) acted as legal advisor alongside Clifford Chance on Çalık Renewables' acquisition of the 255 MW PV portfolio from PAD RES Group.

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Market position

Competitive moat5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/pad-res

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PAD RES