Qair obtains debt for 200 MW of Polish wind, solar projects

French renewable power producer Qair has secured PLN 280 million (USD 67.1m/EUR 61.4m) in debt financing for a nearly 200-MW portfolio of wind and solar parks in Poland.

The funding was provided by the European Bank for Reconstruction and Development (EBRD) as part of five loan transactions, Qair said on Monday. The French firm, formerly known as Lucia Holding group, will use the fresh funds to build the 50-MW Udanin, the 9-MW Parzeczew and 9-MW Wrzesnia wind projects, as well as a 25-MW solar photovoltaic project, all of which were winners in Polish renewable energy tenders. The operation of the Linowo and Rzepin wind parks, with capacities of 58 MW and 48 MW, respectively, will also benefit from the debt financing.

The EBRD loans will be provided to five Polish special-purpose vehicles owned by Qair and French infrastructure fund RGreen Invest. According to the statement, Qair has also obtained project finance for the same portfolio on a parallel basis from BNP Paribas.

Qair’s goal is to deploy 1 GW of renewables capacity by 2022. Presently, the company has 780 MW under construction or at an advanced stage of development, it says on its website.

(PLN 1.0 = USD 0.240/EUR 0.219)

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