The European Bank for Reconstruction and Development (EBRD) has provided loans totalling over €60m to finance two wind farms in Poland with a combined capacity of more than 125MW.
EBRD said the local currency loans are for two separate projects, with a parallel commercial lender, Banco Santander.
Banco Santander benefits from a partial guarantee from Denmark’s Export Credit Agency (EKF), providing the same amount within a PLN550m (€121m) financing package.
The first project is the 81.4MW Banie 3 development in northwestern Poland, where 37 turbines will be built.
The second is at Sepopol in the north-east of the country, where 20 machines will be constructed with a capacity of 44MW.
The EBRD loans will be divided between the two projects, with €20.1m going to Derickar Investments, owner of Sepopol, and €40.3m to Gaberpoint Investments, owner of Banie 3.
Both are Polish companies ultimately owned by the Israeli renewables company Energix Renewable Energies.