EBRD funds 104MW Polish wind farms

POLAND: The European Bank for Reconstruction and Development (EBRD) is to make a long-term loan of up to PLN 292 million (EUR 69.5 million) for the construction of three wind farms in Poland.

The EBRD has invested in other wind projects in eastern Europe
The EBRD has invested in other wind projects in eastern Europe
The money will be loaned to renewable-energy developer Polish Energy Partners (PEP) for the construction of wind projects with a combined capacity of 103.5MW.

EBRD finance will support the construction and operation of three wind farms in northern and north-eastern Poland — Gawlowice with a capacity of 41.4MW, Rajgrod with 25.3MW and Skurpie with 36.8MW.

Total investment in the project is estimated to come to PLN 835 million. This includes an EBRD commitment of PLN 242.7 million for phase one, which will see the creation of the first two farms with a capacity of 66.7MW.

This can, with the bank's agreement, be increased by an additional PLN 49.3 million to be used for the third wind farm. There is an intention to complete the first phase of the project by the end of 2014 and the second by September 2016.

Poland is ahead of its neighbours in eastern Europe in terms of wind power, with 2.5GW installed as of March this year. However, 2013 has been a slow year, with the country delaying the passing of a new renewable energy bill.

The country's failure to move on this issue meant the European Commission referred the county to the European Court. And while the law was eventually signed into statute in August, there are concerns that it does not do enough to prioritise alternative energy.

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