Euro. Investment Bank gives green loan for Polish onshore wind projects
EUROPE

Euro. Investment Bank gives green loan for Polish onshore wind projects

Green loan, covering 50% of total debt, is for construction and operation of six onshore wind farms

News Service AA

The European Investment Bank (EIB) has signed a green loan for six special purpose vehicles owned by EDP Renewables (EDPR) to support the construction and operation of six medium-sized onshore wind farms with a total nominal capacity of 150 megawatts (MW) in Poland, the bank said Tuesday.

"The six onshore wind farms financed by EIB are geographically located mainly throughout the north (Kozlowo, Krasin, Lichnowy, Chojnice and Piatkowo wind farms) and the south (Bogoria wind farm) of the country," the bank said.

The onshore wind farms have been awarded individual 15-year two-sided contract-for-differences under competitive auctions held in 2018 and 2019.

According to the bank, the EIB investment will cover close to 50% of the total senior debt with the remaining debt amount provided jointly by Banco Santander and Caixabank Poland.

In 2020, the EIB Group provided €5.2 billion in financing to projects in Poland.

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