Developer Qair and ING Bank have signed a loan agreement with a total value of Pln242m (€53m) to finance the construction of renewable energy projects with a total capacity of 82MW in Poland.
The financing is for 10 photovoltaic farms with a total capacity of 72MW and two wind farms with a capacity of 10MW.
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The projects received support as part of the renewable energy auctions in 2020-2021 and will achieve commercial operations in 2023, followed by a 17-year loan repayment period.
ING Bank Slaski is the only financing party in the transaction.
The deal with ING marks Qair’s third transaction of this type in Poland and the company said that by the end of 2023 its operating portfolio will exceed 400MW.