Poland's Columbus Energy secures loans for solar projects

Polish photovoltaics (PV) installer Columbus Energy SA on Friday said it has secured loans for over 5 MW of solar projects developed by a number of subsidiaries across Poland.

Ecowolt 2 sp.z o.o has secured a total of PLN 1.26 million (USD 330,000/EUR 280,000) in working capital loans and investment loans of PLN 4.45 million for two projects of almost 1 MW each, located in the village of Rudno in the southern part of the country.

Ecowolt 9 sp.z o.o. has signed agreements for PLN 382,138 in a revolving credit facility and PLN 1.26 million in an investment loan for a 0.49 MW project in Rudno.

Ecowolt 18 sp.z o.o. has secured PLN 619,718 in the form of a working capital loan and a PLN-2.19-million investment loan for a 0.96 MW solar installation in the village of Slawecin in southeastern Poland.

Greenprojekt 16 sp.z o.o. has agreed to working capital loans of PLN 1.26 million and investment loans of PLN 4.43 million for two projects of almost 1 MW each in the commune of Bartoszyce, Warmian-Masurian Voivodeship, one in the town of Plesy and one in Polecze.

All loans were arranged with Bank Ochrony Srodowiska SA. The subsidiaries will contribute between 20% and 25% of the project value.

(PLN 1.0 = USD 0.261/EUR 0.222)

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