Insurer PZU provides 100 million pln wind financing deal

PZU has signed a contract under which it will provide PLN 100 million financing for the expansion of the Potęgowo wind farm with a total capacity of 219.5 MW by another wind farm with a capacity of 37.4 MW.

The project is implemented by a special purpose vehicle, whose shareholders are the Israel Infrastructure Fund as the main organizer and controlling entity, Helios Energy Investment, CME Holdings, Allied Infrastructure Ltd.

“The Potęgowo project is a wind investment of an unprecedented scale in the country, based on high-class technology. We are pleased that our participation will contribute to the installation of another 17 wind turbines, and thus a further increase in the share of green energy in the grid, ”said Krystian Solawa, director of corporate debt at the TFI PZU Structured Investments Office.

The Potęgowo wind farm is located in the north-western part of the Pomeranian Voivodeship, and also near the north-eastern border of the West Pomeranian Voivodeship. The obtained financing will be used to expand the project with the Wieliszewo wind farm with a capacity of 37.4 MW. The total capacity of the Potęgowo power plant will amount to 256.9 MW, which means that it will have a nearly 4% share in the total capacity of wind farms installed in Poland.

“The construction is scheduled to be completed at the turn of 2022 and 2023. Thanks to the expansion, it will be possible to reduce CO2 emissions by 87,140 tons per year. This is almost as much as 21,000 cars emit CO2 each year, ”we read.

As emphasized, this is another renewable energy project in which the PZU Group is involved. Recently, TFI PZU has provided financing in the amount of PLN 50 million for wind farms in Grajewo and Mława. In line with the PZU Group’s strategy adopted at the beginning of the year, the insurer plans to significantly increase its involvement in investments supporting the climate and energy transformation, including wind farms by 2024

The PZU Group is the largest financial institution in Central and Eastern Europe. The value of its consolidated assets in 2020 amounted to nearly PLN 379 billion. The company has been listed on the WSE since 2010.

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