Eurowind Energy has reached financial close with German bank Nord/LB and Danish export credit agency EKF for the 60MW Janikowo wind farm in Poland.
Janikowo will comprises 30 Vestas turbines and is the largest in Eurowind Energy’s portfolio in Poland.
Construction is already underway, with commissioning of the first turbines expected to take place in July.
The wind farm has been granted a 15 year Contract for Difference through the Polish auction system.
Eurowind Energy head of project finance Benjamin Schmitt said: “This is the first large international project that we have financed with Nord/LB supported by guarantees from EKF.
“We have appreciated the professionalism and attitude of both Nord/LB and EKF.
“I believe we have built a solid foundation for further corporation.”
EKF chief commercial officer of global wind and structured finance Peter Boeskov said: “Being part of the green energy transition is very important for EKF, and we are happy to be able to support Eurowind Energy and Nord/LB with this wind project in Janikowo.
“Poland is an extremely interesting market for EKF, and we hope this project is only the beginning of a long-term partnership with all the stakeholders involved.”
Nord/LB global head of structured finance Heiko Ludwig said: “For us it is a matter of great importance to accompany and support our client Eurowind in their efforts to expand their activities in the Polish market.
“We are very pleased to have been able to bring our structuring expertise to this transaction working together with our financing partner EKF as well as Eurowind and to create a tailormade and innovative solution, involving KfW refinanced loans and ECA cover.
“This landmark transaction underlines Nord/LB’s role as a leading European bank in the renewable segment.”
Janikowo is a joint venture of Poland’s Windbud and Eurowind Energy.