EBRD funds 104MW Polish wind farms
Release time:
2016-06-03
The money will be loaned to renewable-energy developer Polish Energy Partners (PEP) for the construction of wind projects with a combined capacity of 103.5MW.
EBRD finance will support the construction and operation of three wind farms in northern and north-eastern Poland — Gawlowice with a capacity of 41.4MW, Rajgrod with 25.3MW and Skurpie with 36.8MW.
Total investment in the project is estimated to come to PLN 835 million. This includes an EBRD commitment of PLN 242.7 million for phase one, which will see the creation of the first two farms with a capacity of 66.7MW.
This can, with the bank's agreement, be increased by an additional PLN 49.3 million to be used for the third wind farm. There is an intention to complete the first phase of the project by the end of 2014 and the second by September 2016.
Poland is ahead of its neighbours in eastern Europe in terms of wind power, with 2.5GW installed as of March this year. However, 2013 has been a slow year, with the country delaying the passing of a new renewable energy bill.
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