EIB signs Pomerania Wind loan

The EIB has signed the PLN258 million ($67.7 million) 15-year loan for Ignitis Renewables’ 94MW Pomerania Wind Farm project in Poland. Agreed earlier in the year, the loan will cover around 47 % of the project investment costs. The project is located in the Pomeranian Voivodship, approximately 50 km from the coastline of the Bay of Gdansk, in the municipalities of Dzierzgon and Stary Targ. Works started in July last year, and the project is expected to be operational in the spring of 2021. The scheme benefits from a 15-year guaranteed tariff of PLN215 per MWh ($50/MWh) won in Poland's November 2018 renewable energy auction.