EBRD to provide €69.5m loan to PEPSA for development of three wind farms in Poland

Renewable energy developer Polish Energy Partners (PEPSA) will receive up to PLN292m (€69.5) loan from the European Bank for Reconstruction and Development (EBRD) to develop three wind farms in northern and north-eastern Poland.

The estimated PLN835m (€198m) project will be developed under two phases. Phase I includes, a 41.4MW wind farm in the Gawlowice village and a 5.3MW farm in Rajg rod.

Both plants are expected to be completed by the end of 2014.

Phase II includes the construction of a 36.8MW wind farm in the village of Skurpie with completion date of September 2016.

The bank will provide PLN242.7m (€58m) funding under the first phase. The remaining PLN49.3m (around €12m) funding for second phase is likely to be provided with the bank’s consent.

EBRD director for Poland Lucyna Stanczak said that the bank is proud to be associated with this effort to increase renewable energy production, which it consider very important for Poland to meet the EU target for the renewable energy share in the country’s energy mix.