EIB grants 304 million pln loans for 6 wind farms

The European Investment Bank (EIB) will grant a loan of approximately EUR 66 million (approximately PLN 304 million) for the development of six onshore wind farms in Poland. This is the largest EIB loan of this type in Poland so far.

The European Investment Bank has approved a loan of approximately EUR 66 million (approximately PLN 304 million) with six EDP Renewables (EDPR) SPVs to support the construction and operation of six onshore wind farms with a total capacity of 150 MW. They are located mainly in the north of the country (Kozłowo, Krasin, Lichnowy, Chojnice and Piątkowo wind farms) and in the south (Bogoria wind farm).

Wind farms received individual 15-year bilateral contracts for difference (CFDs) in competitive auctions held in 2018 and 2019. The CFD system is the main mechanism for supporting low-emission electricity production in Poland. The project is also the first in Poland to benefit from the EIB Green Loan, the features of which are fully in line with the requirements of the Climate Awareness Bond Program.

The EIB investment will cover nearly 50 percent of the total senior debt – the remainder will be provided jointly by Santander Bank and Caixabank Polska, partially backed by an ECA guarantee from the EKF.

“Energy transformation is one of the most important tasks for the future. The European Investment Bank, which is the EU Climate Bank, is pleased to co-finance the EDPR wind farm project. We strongly believe that by investing in the diversification of the energy sector in Poland, we improve the quality of life of the society” – said Prof. Teresa Czerwińska, Vice-President of the EIB.


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