EIB loan Poland €41 million to build four wind farms in western PolandChristian Fernsby ▼ | October 22, 2020
The European Investment Bank (EIB) and LBBW are providing PLN 184 million (approximately €41 million) each to finance the construction and operation of four wind farms in Poland’s Wielkopolskie region.
Poland European Investment Bank
Topics: EIB Poland
The EIB financing is backed by a guarantee from the European Fund for Strategic Investments (EFSI), the central pillar of the Investment Plan for Europe.
Under this plan, the EIB and the European Commission are working together as strategic partners to boost the competitiveness of the European economy. One of EFSI’s objectives is to develop the energy sector, especially the use and supply of renewable energy.
The project will contribute to reducing CO2 emissions and air pollution, thereby making a strong contribution to climate change mitigation. In addition, it will support a less-developed region, thus helping to reduce regional disparities.
“Poland is looking to reduce its dependence on coal, while creating new jobs in the energy sector,” said Teresa Czerwinska, EIB Vice-President responsible for operations in Poland.
“Wind power is the renewable energy source with the biggest growth potential in the country, and the EIB is glad to support this transition. Thanks to EFSI, we are able to address a gap in affordable long-term finance for renewable energy generation in Poland. This is important, as we need to offer the country and its people the best possible conditions to embrace a clean and climate-friendly future.”
The facilities will be operated by project companies belonging to wpd europe GmbH, a subsidiary of wpd AG. wpd AG has developed and implemented more than 4 GW of wind capacity globally since the end of the 1990s, and the EIB has previously supported offshore wind projects from the company in France and Germany.
The wind farms will benefit from the Polish support scheme for Renewable Energy for part of the electricity produced. ■