Renewable

November 8 (Renewables Now) - Polish energy group Polenergia SA (WSE:PEP) has started to build the 38-MW Szymankowo onshore wind farm, its first project that will operate purely on a commercial basis without any support from an auction system or a power purchase agreement (PPA).

To realise the Szymankowo project, Polenergia said it turned to bank financing, securing a total of PLN 107 million (USD 27.7m/EUR 25.1m) from a lending syndicate that includes the European Bank for Reconstruction and Development (EBRD), Poland’s mBank SA (WSE:MBK) and ING Bank Slaski, of Dutch ING Group (AMS:INGA).

The EBRD provided a long-term loan of up to PLN 42 million, it said Wednesday.

The Szymankowo wind farm will be erected in Miloradz commune in the Pomeranian Voivodeship, northern Poland. Siemens Gamesa Renewable Energy SA (BME:SGRE) will supply 11 wind turbines and service Szymankowo for 25 years after commissioning.

Przedsiebiorstwo Budownictwa Drogowo-Inzynieryjnego SA, part of Poland’s Erbud SA group (WSE:ERB), is hired as a contractor for construction works.

The wind farm is expected to start generating electricity in 2021. Its annual output is estimated at close to 120 GWh, or enough to power up 60,000 households.

Polenergia said the Szymankowo wind farm would boost its onshore wind capacity by 15% to 287 MW.

(PLN 1.0 = USD 0.259/EUR 0.235)