EBRD provides EUR 70m for 103.5 MW of Polish wind farms

Oct 8, 2013 - The European Bank for Reconstruction and Development (EBRD) said Monday it would extend a PLN-292-million (USD 94m/EUR 70m) loan to units of Polish Energy Partners SA (WAR:PEP) for the construction of 103.5 MW of wind parks.

The financing will be provided to a group of three special-purpose entities which will build three wind power plants in Poland. The biggest park will have a capacity of 41.4 MW and will be situated in Gawlowice, northeastern Poland. The group will also install a 25.3-MW plant in Rajgrod, in the northeastern part of the country too, and a 36.8-MW facility in Skurpie, northern Poland.

The total value of the projects is calculated to be PLN 835 million. As many as PLN 242.7 million of EBRD’s commitment will be allocated for the first 66.7 MW to be installed. There is an option to boost the bank loan by PLN 49.3 million for the third wind farm. The first two parks are expected to be wrapped up by the end of next year, while the 36.8-MW one will be completed by September 2016.

Once operational, the wind farms are estimated to offset about 179,000 tonnes of carbon dioxide (CO2) emissions each year.

(PLN 1.0 = USD 0.323/EUR 0.238)

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