European Energy has secured more than €53m in financing on five Polish wind farms.
The farms have a total capacity of 44.7MW and construction on the parks started in 2021.
The expected COD for the parks will be in the first half of 2022.
European Energy executive vice president Jens-Peter Zink said: “We are satisfied to have reached another milestone in Poland with the financial closing of our first project financing on five wind farms.
“With a substantial pipeline of wind and solar assets secured across Poland in our portfolio, we look forward to repeat this kind of successful financing in the future.”
European Energy opened an office in Warsaw in 2021 and has more than 2GW development pipeline in Poland including both solar and wind.
Poland aims in its Polish Energy Policy of Poland, PEP2040, to reach an installed energy capacity of solar to be around 5-7GW in 2040 while offshore wind energy is to reach approximately 11GW in 2040.
The country aims to have energy from renewable sources be no less than 32% of the national electricity consumption in 2030.
The financing comes from Norddeutsche Landesbank Girozentrale (NORD/LB) and EKF Denmark´s Export Credit Agency (EKF).
They were advised by Watson Farley & Williams in the financing.