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    Reference: 20200091
    Release date: 12 May 2020

    Promoter – Financial Intermediary

    MIROVA

    Location

    Description

    The operation concerns a minority stake into a wind farm project portfolio (132MW) equity investment in Poland.

    Objectives

    The EIB financing for this operation is expected to have an important acceleration and demonstration effect. Indeed, it will be one of the first greenfield renewable energy projects to be financed in Poland as a consequence of the auctions launched by the regulator in late 2018. Besides, the present operation will contribute to the achievement of Polish targets for renewable energy and to the reduction of the CO2 emissions.

    Sector(s)

    • Energy - Electricity, gas, steam and air conditioning supply

    Proposed EIB finance (Approximate amount)

    EUR 32 million

    Total cost (Approximate amount)

    EUR 198 million

    Environmental aspects

    The plants are included in the annex II of the Directive 2014/52/EU amending the Environmental Impact Assessment (EIA) Directive 2011/92/EU, requiring the Environmental Authority to determine the need of an EIA process. In all cases, the plants have been screened out, and the EIA process, including public information, has been carried out, in compliance with the national law, transposing the abovementioned directives.

    Procurement

    The plants were awarded in the renewable energy auction launched by the Polish government in 2018, being fair, open and competitive, in compliance with the EU Directives on the matter, and the EIB Guide to Procurement. The generation activity, in the Polish electricity market, is liberalized. Procurement of the project components is subject to private procurement regime, and the process carried out by the promoter has been assessed and deemed satisfactory.

    Status

    Signed - 28/07/2020

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Poland Energy