Financing secured for 286-MWp photo voltaic challenge in Poland

Might 16 (Renewables Now) – German EPC firm Goldbeck Photo voltaic GmbH and its associate Respect Vitality S.A. have secured a PLN-635-million (USD 140.65m/EUR 135.44m) mortgage for a 286-MWp photo voltaic challenge in Poland with the primary section of the park anticipated to go surfing in June.

The financing for the Zwartowo challenge is supplied by the European Financial institution for Reconstruction and Improvement (EBRD) and Polish lenders PKO BP SA (WSE:PKO) and Pekao SA (WSE:PEO).

“The challenge was very effectively obtained by the lending neighborhood, and a aggressive tender course of allowed it to attain market-leading financing phrases, together with a tenor of 18 years,” stated Goldbeck Photo voltaic’s head of Challenge Finance Olga Kovalchuk.

Situated about 65 km (40.39 mi) northwest of town of Gdansk, Zwartowo shall be Poland’s largest photo voltaic park able to supplying round 153,000 households with clear energy. The development of the power started in early 2021 and the primary section is now coming into completion, Goldbeck Photo voltaic stated final week.

“Regardless of all adversities, building is continuing on schedule. Given the continued disruption of provide chains, the covid pandemic and struggle in Ukraine, it is a vital achievement,” stated Goldbeck Photo voltaic’s president Joachim Goldbeck.

The entire value of the challenge is estimated at almost EUR 200 million (USD 207.7m).

(PLN 1 = USD 0.222/EUR 0.213)

(EUR 1 = USD 1.039)

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