Qair has secured a bank loan to build three solar farms in Poland with a total capacity of 130MW.
The projects are located in Golczewo, Rokietnica and Pakość and will enter operation in 2024.
The loan agreement was signed with a consortium of Santander Bank Polska and PKO Bank Polski.
The energy generated by the sites will be sold to identified offtakers under long-term, corporate power purchase agreements (CPPAs).
Funding may be subject to further expansion if the level of volume contracted under CPPAs increases.
“We are pleased to continue our cooperation with Santander Bank and PKO Bank Polski, which will enable us to develop our portfolio of projects made for long-term CPPAs,” said Qair Polska chief executive Krzysztof Wojtysiak.
“We are extremely appreciative that representatives of both banks follow the changes in the renewable energy trading market with us and support our development.”