PAD RES
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.
- Company typePrivate
- Founded2010
- HeadquartersWarszawa, Poland
- Headcount11–50
- GTM typeB2B
- OfferingServices
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.
PAD RES firmographics
Firmographics- 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
PAD RES industry classification
Industry- 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
Where PAD RES is headquartered
LocationHeadquarters
- HQ city
- Warszawa
- HQ country
- Poland
- HQ region
- Europe
Offices1 record
Markets served
PAD RES business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Supply Chain, Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- 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.
- 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.
- 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.
- 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
PAD RES product offering
Product offeringCore 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
Companies that use PAD RES
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles4 records
PAD RES technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
PAD RES partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core and supporting.
- ElectrumcoreElectrum 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.
- InplagsupportingInplag 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.supportingPAD 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.
- VestassupportingVestas 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 RenewablescoreIn 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 SpAsupportingCollaboration 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 PolskasupportingIn 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 EnergysupportingAt 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 FarmingsupportingIn December 2020, PAD RES sold 40 PV projects to Sun Farming, continuing its project rotation strategy to finance further pipeline development.
- SenvionsupportingSenvion is listed as a business partner of PAD RES, likely as a historical turbine supplier for wind farm projects.
- Clifford ChancesupportingClifford Chance acted as legal advisor alongside DZP on Çalık Renewables' acquisition of the 255 MW PV portfolio from PAD RES Group.
- DZP (Dentons)supportingDZP (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
PAD RES competitors and assessment
Company assessmentMarket position
Competitive moat5 records
Key highlights6 records
Customer concentration
PAD RES social profiles
Digital presencePAD RES financial estimates
Financial estimateRevenue estimate
Valuation estimate
PAD RES leadership team
Management profileNumber of profiles
Profiles5 records
PAD RES subsidiaries and ownership
Company hierarchySubsidiaries1 record
PAD RES funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
PAD RES M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about PAD RES
What does PAD RES do?
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.
Is PAD RES a public or private company?
PAD RES is a private company. It is classified as private equity controlled and is currently operating.
When was PAD RES founded?
PAD RES was founded in 2010. It employs 11 to 50 people.
Where is PAD RES based?
PAD RES is headquartered in Warszawa, Poland, in the Europe region.
How does PAD RES make money?
Four revenue lines are on record. Project sales are the primary driver. The others are asset management services, power Purchase Agreements (PPA) and project acquisition and development fees.
Does PAD RES have an API?
No public API is recorded for PAD RES.
What industry is PAD RES in?
PAD RES's product category is Renewable Energy Project Development. Its primary akta.pro industry code is EUAGADAB, Utility-Scale Generator PPAs (Project Offtake), with a secondary code of EUAGACAF, C&I PPAs & Virtual PPAs (VPPA) Origination & Management.