The EBRD is providing a long-term loan of up to PLN 292m (€69.5m) to a group of three special-purpose companies fully owned by Polish Energy Partners S.A. (PEPSA) for the construction of a portfolio of three wind farms in Poland. PEPSA is a leading Polish renewable energy developer and producer, listed on the Warsaw Stock Exchange and majority-owned by Kulczyk Investments.
The EBRD finance will support the construction and operation of three wind farms in northern and north-eastern Poland - Gawłowice with a capacity of 41.4 MW, Rajgród with 25.3 MW and Skurpie with 36.8 MW - with a total capacity of 103.5 MW. The expansion of wind energy will reduce CO2 emissions in Poland by approximately 179,000 tonnes per annum.
Total investment in the project is estimated to be PLN 835m (€198.8m). This includes an EBRD commitment of PLN242.7m for phase I (creating a capacity of 66.7 MW) which can, with the Bank’s consent, be increased by an additional PLN 49.3m to be used for the third wind farm (phase II). The first phase of the project should be completed by the end of 2014 and the second by September 2016.
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