EBRD provides $94.4m loan for three PEPSA wind farms in Poland

8 October 2013 (Last Updated October 8th, 2013 18:30)

The European Bank for Reconstruction and Development (EBRD) has signed an agreement to provide a senior long-term loan of up to PLN292m ($94.4m) to support the construction and operation of a portfolio of three wind farms totalling 103.5MW in Poland.

EBRD

The European Bank for Reconstruction and Development (EBRD) has signed an agreement to provide a senior long-term loan of up to PLN292m (€69.5m) to support the construction and operation of a portfolio of three wind farms totalling 103.5MW in Poland.

The three plants (the project) are 41.4MW Gawlowice, 36.8MW Skurpie and 25.3MW Rajgrod and are being owned and operated by Polish Energy Partners' (PEPSA) three fully owned subsidiaries, Grupa PEP - Farma Wiatrowa 1, Grupa PEP - Farma Wiatrowa 4 and Grupa PEP - Farma Wiatrowa 6.

The project will be developed in two phases, with phase one consisting of Gawlowice and Rajgrod plants, which are scheduled for completion by the end of 2014, while phase two comprising the Skurpie plant, which is set for commission by September 2016.

The EBRD loan, which represents up to 35% of the total project cost of around PLN835m (€198.8m), includes PLN242.7m (€57.8m) for the phase one and PLN49.3m (€11.74m) for the phase two, while the remaining funding is expected to be provided by other financial institutions and PEPSA.

"The remaining funding is expected to be provided by other financial institutions and PEPSA."

Located in the county of Grudziadz, Kujawsko-Pomorskie region, the Gawlowice wind farm will feature 18 Siemens SWT-2.3-108 wind turbine generators (WTGs), a main electrical substation, and underground infrastructure of power transmission and control cables.

The Rajgrod plant will feature 11 Siemens WTGs, a main electrical substation (MES Rajgrod), an underground infrastructure of power transmission and control cables; and power transmission line from MES Rajgrod to the switching station 110kV/15kV Grajewo 1.

The Skurpie wind farm will construct 16 Siemens WTGs and associated infrastructure in the county of Dzialdowo town, Warminsko-mazurskie region.

EBRD director for Poland Lucyna Stanczak said that the signing of the loan agreement represents a milestone for the financing of renewable energy investments in Poland and helps PEPSA in achieving its renewable energy goals.

"The EBRD is proud to be associated with this effort to increase renewable energy production, which we consider very important for Poland to meet the EU target for the renewable energy share in the country's energy mix," said Stanczak.


Image: The three plants will have total capacity of 103.5MW. Photo: courtesy of EBRD.

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