EIB helps finance 66MW solar PV project in Poland
The European Investment Bank has signed its first loan to a company building and running photovoltaic plants in Poland.
The bank will lend PLN82 million (about €18 million) to Energy Solar Projekty for the construction and operation of 66 small-scale, independent photovoltaic plants. The EIB is co-financing the project with DNB Bank Polska, with each bank providing 50% of senior debt. The shareholders of the borrower will provide around 30% of total funding needs of the project.
The PV plants are located in northern Poland, covering areas in the Voivodships of West Pomerania, Pomerania, Warmia-Masuria and Kuyavia-Pomerania, with a larger conglomeration in the first three regions. The PV plants are grouped in eight project companies, each comprising of one or more individual plants. Energy Solar Projekty is the holding company owning the overall portfolio.
With an average nominal capacity for each plant of less or equal than 1MW, the total capacity will reach about 65,6MW. This is the equivalent of 19,000 households, which could be supplied with the energy generated by the project.
The total capacity of all newly built independent PV plants in the portfolio will produce approximately 68,000 MWh of electricity in the first year and will help to reduce 47,000 tons of carbon dioxide each year.
