PNE embarks on 59-MW of Polish wind projects

German renewable energy company PNE AG (ETR:PNE3) will “very soon” start building two wind parks in Poland totalling 59 MW, it said on Friday.

The first one, dubbed Krzecin, will be located in the village with the same name in northwestern Poland. It will be equipped with eight Nordex N117 turbines with a combined capacity of 19 MW. Although PNE did not provide an exact date for the ground-breaking, it expects to have the power plant online by the end of 2021.

Twelve Vestas V126 wind turbines of around 40 MW in total will be powering the Kuslin wind park in western Poland. Building works on this project are due to begin in a few weeks, while the construction phase is planned to be completed in the first half of 2022.

The two projects will involve an investment of around EUR 100 million (USD 119.8m). The amount was provided by the European Bank for Reconstruction and Development (EBRD) and BayernLB Sevivon Sp zoo, which is part of the PNE Group. Last week, EBRD confirmed it has extended PLN 173 million (USD 46.3m/EUR 38.7m) in debt to the special-purpose vehicles developing the projects.

"With these two wind energy projects, we are continuing our successful involvement in the growing Polish market for renewable energy," said PNE’s CEO Markus Lesser.

(EUR 1.0 = USD 1.198)

(PLN 1.0 = USD 0.268/EUR 0.223)

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