Pad-Res - a Polish developer in the clean energy sector owned by Griffin Capital Partners, Kajima Europe and Mariusz Adamczewski - has obtained financing for the construction of a Genowefa solar farm with a total capacity of 35 MW, the company said. The financing of the investment is ensured by a loan agreement signed with Santander Bank Polska and BNP Paribas Bank Polska. The construction of the Genowefa photovoltaic farm with an area of 45 ha, located in Kleczew, began in April this year. The general contractor of the facility is Electrum Concreo. Pad-Res intends to complete the construction of the solar farm in Q2 2023, according to the material. In September 2021, Kajima Europe, a pan-European real estate investment and development company, and Griffin Capital Partners, a private equity investment firm, acquired a majority stake in Pad-Res. Since then, it has acquired 13 projects with a total capacity of 350 MW with positively considered applications for connection conditions to the transmission network. Genowefa is the first investment carried out by Pad-Res since the developer was taken over by Kajima Europe and Griffin Capital Partners. “The implementation of long-term investments to provide clean energy, necessary for Poland, is a key element of Kajima's business strategy. The funding obtained for Genowefa is an excellent support for Pad-Res's debut in Poland and confirmation of our ambitious plans to provide green energy in this country, ”said investments director & head of renewables in Kajima Chris Gill, quoted in the release. “Genowefa is the most advanced project in our RES investment portfolio. The Pad-Res, Kajima Europe and Griffin teams have put a lot of effort into developing this project to a ready-to-build status, securing the PPA and securing financing, and now construction management. We are very pleased with the whole process and excellent cooperation with our partners ”- added senior vice president investments at Griffin Capital Partners Jędrzej Socha. Source
15.07.2022