April 25 (Renewables Now) – The European Financial institution for Reconstruction and Growth (EBRD) is extending a PLN-212-million (USD 49.1m/EUR 45.7m) mortgage to assist the development of a large-scale photo voltaic farm in Zwartowo, Poland.
The EBRD will grant the funds within the type of a senior secured mortgage and debt service reserve facility, the financial institution stated. Its portion of the financing might be half of a bigger bundle co-financed by Polish lenders PKO BP SA (WSE:PKO) and Pekao SA (WSE:PEO).
The borrower is undertaking firm Stigma Sp z.o.o, which is a particular function automobile integrated in Poland and not directly majority owned by Germany’s Solarnet Funding GmbH.
The mortgage might be used to construct the 285.6-MWp Zwartowo photo voltaic PV undertaking, which is ready to turn into the biggest photo voltaic plant in Poland, in line with the EBRD.
(PLN = USD 0.232/EUR 0.215)