Wpd secures financing for 102.5 MW of wind projects in Poland

German renewables developer Wpd AG, today said it has reached financial close for four wind projects with a combined capacity of 102.5 MW in central Poland.

Construction and operation of the wind projects will be financed by the European Investment Bank (EIB) and Germany's Landesbank Baden-Wuerttemberg (LBBW). The two banks will provide PLN 184 million (USD 47m/EUR 40m) each. The EIB loan is guaranteed by the European Fund for Strategic Investments.

The four projects, which Wpd's local subsidiary won in an auction in November 2018, are located near Poznan in the Wielkopolskie region. At present, 35 out of the 38 turbines are erected at the wind farm sites and all projects are expected to reach full operation by the end of the year.

Jarocin Wschod wind farm, Krotoszyn wind farm, Jarocin Kozmin wind farm and Slupca Kolaczkowo wind farm together will generate enough power to meet consumption needs of over 60,000 homes.

The output of Jarocin Wschod and Krotoszyn will be sold to the Polish unit of French telecom group Orange SA (EPA:ORA) under a 10-year power purchase agreement (PPA). The remaining two wind farms will supply electricity to the local unit of French energy group Engie (EPA:ENGI).

(PLN 1.0 = USD 0.218/EUR 0.258)

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