Poland-based Polenergia has signed a 1.35bn zlotys ($342m) financing agreement with a consortium of banks to support a portfolio of five onshore wind farms with a total capacity of 276MW.
The arrangement covers both refinancing and new investment, with around 740m zlotys dedicated to paying off existing loans and 99m zlotys allocated to debt service.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Polenergia said that the remaining funds will be available to support the company’s ongoing growth plans.
The wind farms included in the agreement represent more than half of Polenergia’s total onshore wind capacity, which currently stands at 493MW.
The five sites selected for this financing are the 121MW Dębsk, 46MW Mycielin, 44MW Grabowo, 38MW Szymankowo, and 27MW Kostomłoty.
Polenergia combined these wind projects into a single loan portfolio, a structure the company says enabled it to benefit from improved financing terms linked to asset diversification.
The move also replaced separate financial arrangements for each wind farm with a simplified approach under a joint agreement.
Standardised reporting requirements for the subsidiaries involved are expected to streamline administration and reduce costs.
Five banks have participated in the 15-year facility. mBank will act as facility and security agent, with Erste Bank handling interest rate hedging coordination.
The other lenders are Bank of China, Bank Millennium, and China Construction Bank.
Polenergia’s broader strategy foresees an increase in total generation capacity to 1.5GW by 2030, with plans for both offshore and onshore wind developments.
In the Baltic Sea, the foundations for 100 turbines at the Bałtyk 2 and Bałtyk 3 wind farms have been installed, totalling a combined capacity of 1.44GW.
These projects, developed together with Equinor, received over €6bn in project finance in 2025, sourced from approximately 30 separate financial institutions.
Polenergia is also progressing with the Bałtyk 1 offshore wind project, planned at up to 1.56GW and also developed jointly with Equinor.
The group has further pipeline projects in Poland and Romania across wind, solar, and battery storage, with combined capacity exceeding 3GW at various stages of development.
Polenergia CEO Adam Purwin said: “This is a major success for Polenergia. Securing financing on such a large scale under the new agreement with banks, 1.35bn zlotys, confirms the strength of our strategy, the quality of our assets and the group’s growing position in the market.
“These funds give us additional momentum to deliver our ambitious growth plans, which are intended to significantly expand our generation capacity and financial performance.”
