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Publish Date : 21-May-2020

The EBRD is advancing the green energy transition in Poland by supporting Qair’s portfolio of almost 200 MW of renewable energy with five loans totalling PLN 280 million (approximately €63 million equivalent).

The portfolio includes the construction under the Polish renewable energy auction support scheme of 93 MW of new capacity – the three wind farms Udanin (50 MW), Parzeczew (9 MW) and Wrzesnia (9 MW) and 25 MW of solar photovoltaic – as well as the operation of wind farms Linowo (58 MW) and Rzepin (48 MW).

The EBRD loans will be provided to five Polish special-purpose vehicles that are ultimately owned by two experienced sponsors – the French renewable energy developer and operator Qair and the French infrastructure fund RGreen Invest.

Harry Boyd-Carpenter, EBRD Director, Head of Energy EMEA, said: “While so many efforts are rightly focused on addressing the Covid-19 crisis, it is also vital to sustain the momentum behind the green transition. Climate change may now feel less immediate, but it is every bit as serious a challenge. By providing long-term finance under the current circumstances, the EBRD is making a significant contribution to Poland’s energy transition and demonstrating its commitments to its partners and strategic goals.”

Poland still generates 80 percent of its energy from coal, with harmful effects on the environment and human health. The country has committed itself to the EU climate and energy targets for 2030, which include a reduction of at least 40 percent in greenhouse gas emissions. Renewable energy has a key role to play in meeting that goal.

The EBRD started investing in Poland in 1991 and to date has provided €10.3 billion through 434 projects to all sectors of the economy. Supporting the country’s green transition with investments in renewable energy and energy efficiency remains one of the Bank’s priorities in Poland.

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