Energix unlocks EBRD funds for 125 MW of wind projects in Poland

The European Bank for Reconstruction and Development (EBRD) is providing half of the financing needed to support the construction and operation of two wind farms with a combined capacity of 125.4 MW in Poland.

The bank’s loan of PLN 275 million (USD 72.2m/EUR 60.7m) will back the efforts of Israeli developer Energix Renewable Energies to move forward with the 81.4-MW Banie III and the 44-MW Sepopol wind projects.

The EBRD's share of the financing will be provided to two different Energix-owned companies. Derickar Investments, which owns the Sepopol project, will get PLN 91.6 million. Behind Banie III is Gaberpoint Investments, which will receive a PLN-183.4-million loan, the EBRD said.

Spanish lender Banco Santander SA (BME:SAN), which benefits from a partial guarantee from Denmark’s Export Credit Agency (EKF), will co-finance the same projects with a further PLN-275-million loan.

This spring, Energix arranged to place the output of Banie III and Sepopol under power purchase agreements (PPAs) with energy trader Axpo Polska. The projects are further backed by subsidies secured in Poland's renewable energy auctions.

The two wind farms are currently under construction and are due to come online in 2022.

(PLN 1.0 = USD 0.262/EUR 0.221)

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