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