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SUNfarming secures debt for 40 MWp of solar in Poland

Image by: SUNfarming GmbH (www.sunfarming.de).

January 30 (Renewables Now) - German group SUNfarming GmbH has obtained EUR 20 million (USD 22.9m) in debt financing for the construction of 40 MWp of solar photovoltaic (PV) parks in Poland.

The first assets that will benefit from the financing framework are four plants of 1 MW each, which were brought online in Ostroleka city, northeastern Poland, at end-2018. The installation of additional facilities with a combined capacity of 5 MWp will be also supported, the German company said last week, adding that those will include three 1-MWp solar parks that will be set up near the town of Lask, Lodz Province, and two plants in Lower Silesia.

All projects under the 5-MWp portfolio were secured in a tender in June 2017 and have to be completed by the end of June. They have in place contracts under the Contract for Difference (CfD) regime and will sell their output at a fixed tariff.

“With a planned PV capacity of 1.2 GW by 2020 with currently only about 360 MW of installed capacity, Poland represents an important future market for us,” said Martin Tauschke, managing director of SUNfarming GmbH and SUNfarming Polska.

(EUR 1.0 = USD 1.143)

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Browse all articles from Veselina Petrova

Veselina Petrova is one of SeeNews Renewables most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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