Genowefa

Kajima and Griffin Capital Partners acquired a majority stake in PAD-RES, Poland's leading developer in renewable energy, in 2021 and has since gained an additional portfolio of projects with a total capacity of +1.5 gigawatts.

Kajima and Griffin funded the construction of a 35-megawatt photovoltaic farm in Genowefa, Poland. Construction began in April 2022 and was funded via a mix of shareholder loans from Kajima and project finance from Santander and BNP.​

In September 2023, the sale of Genowefa to Enea, a leading state-owned Polish energy company, was successfully completed.

Renewable energy in Poland is at an early stage of development. Around 70 percent of Poland's energy demand is still being met by coal power. In April 2023, The Polish Ministry of Climate unveiled its new "Energy Policy of Poland until 2040" strategy, which details that by 2040, 74 percent of the country's energy will be generated by zero-emission sources, including renewables and nuclear power.

Renewable energy is forecast to reach a capacity of 88 gigawatts by 2040, providing 51 percent of Poland's needed power. Genowefa is the first step in Kajima's ambitious plans to bring renewables to Poland, forming part of the country's transition to clean energy.

Genowefa became operational in September 2023 and supports electricity consumption for 18,000 homes.​