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.
Enterprise Investors is the oldest and one of the largest private equity firms in Central and Eastern Europe. They specialize in mid-market succession-driven buyout transactions and provision of expansion financing to high-growth enterprises across a range of sectors. Active since 1990, they have raised nine funds with total capital exceeding EUR 2.5 billion. These funds have invested over EUR 2.0 billion in 145 companies. So far, Enterprise Investors has allocated EUR 50 million to investments through Wento in the quickly growing renewable energy sector in Poland.
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.
Since its incorporation, Wento has been managed by the same management team with extensive experience in the energy industry:
Wojciech Cetnarski took on the position of Wento’s CEO after eight years of successful running of an investment advisory and management company. During that time, from 2009 to 2012, he also served as the Management Board Member of Norvento Polska, an investment and project development company, acquiring and developing about 70 MW of wind projects. By December 2005, Mr. Cetnarski held the position of the Vice President of Polish Energy Partners S.A. and the President of Saturn Management Sp. z o.o., a fully owned subsidiary of Polish Energy Partners S.A. (currently Polenergia). As one of the founders, from 1997 to 2003, he also served as the President of Management Board and CEO of Polish Energy Partners S.A., which became a public company in 2004. With PEP, he started the development of one of the first Polish wind farms, in Puck (22 MW), which became operational in 2007.
Mr. Cetnarski founded Polish Energy Partners S.A. after six years of successful activity as an entrepreneur and manager of Polish and international companies in Poland. Before joining Polish Energy Partners S.A., Mr. Cetnarski was a partner and the Vice President of a consulting company Quo Vadis Polska. Prior to this, he was the Senior Vice President of Hanze Holding, a large Polish holding company, where he was responsible for strategic planning and development of the group. He is also a founder of Toros, one of the first Polish-Italian joint venture companies.
From 2001 to 2005, he held the position of the Vice President of Industrial Power Consumers Association that he co-founded in 1998, and from 2002 the position of the Member of the Management Council of Kogen Polska, which he also co-founded. In the period from 2000 to 2002, he served as the member of the Supervisory Board of Energomontaż Południe SA, one of the leading Polish construction companies. Mr. Cetnarski was also the President and subsequently vice-president of the Polish Wind Energy Association since 2013 and a member of the management board of WindEurope.
Mr. Cetnarski studied in the Faculty of Aircraft Engineering at the University of Rome and Civil Engineering at the Warsaw University of Technology. He is fluent in Polish, English, Italian and Russian.
Mr. Guzik took on the position of Wento’s Development Director after sixteen-year career development in the energy industry.
At that time, he was associated with companies such as Siemens, Siteco and Polterm, where for six years he was actively developing the energy market in Poland, both in terms of technical and commercial aspects. For the next five years, Mr. Guzik worked for RWE Polska S.A. as Key Account Manager and subsequently Senior Manager at Key Accounts Department, preparing successful strategies for sales and product development on the newly created wholesale energy market.
In years 2009-2010, Mr. Guzik worked as Senior Originator at EGL Polska, specializing in gas and power trade and supply. He was responsible for market strategy preparation and execution for renewable and conventional energy. Then, he joined Gamesa Energia Polska, a wind turbine manufacturer and wind farm developer as Senior Transaction Executive. During his stay at Gamesa, Mr. Guzik successfully completed multiple sale transactions of fully operating wind farms.
Mr. Guzik received a master`s degree in 1997 at Warsaw University of Technology, and then he completed postgraduate studies in the Warsaw School of Economics in the Faculty of Management and Marketing. He is fluent in Polish and English, and has some knowledge of Russian and Spanish.
Mr. Matwijów joined Wento Sp. z o.o. as the CFO in 2012. Before joining Wento’s team, he held the position of the Financial Director of Global Wind Energy Poland Sp. z o. o., a branch of Global Wind Energy Group, an international developer in the field of renewable energy. During his time at GWEP, he was responsible for all financial and tax aspects related to the activity of project companies developing wind farms with overall capacity of 175 MW.
From 2005 to 2011, Mr. Matwijów served as Financial Manager in Polish Energy Partners S.A. He was responsible for arranging financing for new projects, reporting and budgeting processes as well as financial modelling. At that time, he took active part in wind, biomass and energy outsourcing projects from an early concept stage through construction to operations. The total value of the financing arranged during his term at PEP topped EUR 120 million.
Between 2003 and 2005, Mr. Matwijów held the position of Manager in Mazars & Guerard Polska, a branch of a French audit company, Mazars. He was responsible for auditing financial statements and group reporting packages as well as supervision of the due diligence processes of company clients. Before that, from 2000 to 2003, Mr. Matwijów served as Financial/Credit Analyst in the Corporate Banking Department (syndicated lending section) of Bank Gospodarki Żywnościowej S.A.
Mr. Matwijów graduated from the Warsaw School of Economics in the Faculty of Finance and Banking (1999). He is fluent in Polish and English.
Łukasz Dąbrowski is the Management Board Member responsible for the development of the Solar PV business line. He has over 13 years of experience in the energy sector.
He joined Wento in 2015 as Investment Manager and in 2018 was promoted to Project Development Director position. From the beginning, Mr. Dąbrowski is responsible for Wento’s investment in the solar PV sector. Currently he manages one of the largest solar PV project portfolios in Poland – 1000 photovoltaic projects per 1 MW each at various stages of development.
Prior to joining Wento he was part of Management Consulting at KPMG Advisory – responsible for strategic and operational analyzes for regulated markets with a focus on energy & resources sector, Business Development Activities in the area of energy, in particular, capacity market, changes in legislation regarding renewable energy.
Before this position he worked as Strategy Portfolio Management (Innogy Polska), responsible for the development of financial models for the analysis and optimization of energy purchases, creation, and development of market analysis for conventional energy, energy certificates.