Tuesday, July 23, 2024
HomeElectricityEIB and Ladesbank Baden-Württemberg support Poland to build 4 wind farms

EIB and Ladesbank Baden-Württemberg support Poland to build 4 wind farms

The European Investment Bank (EIB) and Germany’s commercial bank Landesbank Baden-Württemberg (LBBW) are providing 42 million euros and 57 million euros respectively to finance the construction and operation of four wind farms in Poland, near Poznan.

The contractor will be the international developer and operator of wind farms wpd and the final installed capacity is going to be 102,5 megawatts (MW). The systems will be able to provide more than 60,000 households with electricity at peak times.

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. According to this plan, the EIB and the European Commission are working together to boost the competitiveness of the European economy. It was not accidental that their choice fell upon this project: one of the aims of EFSI 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.

“I warmly welcome the fact that EIB financing under the Investment Plan is facilitating the construction of new wind farms in Poland,” said Paolo Gentiloni, European Commissioner for the Economy. “Thanks to EU support, around 60,000 Polish households stand to benefit from clean energy. This is a tangible example of what the European Green Deal means for Polish citizens. With every investment of this kind, we take another step closer to our goal of making the European Union climate neutral by 2050.”

Also, Teresa Czerwinska, the Vice-President of the EIB welcomed the project and expressed her positive expectations that with these wind farms Poland’s coal dependency will decrease and as a further result, will increase the number of new jobs in the energy sector. Furthermore, the wind farms will benefit from the Polish support scheme for Renewable Energy for part of the electricity produced.

“Wind power is the renewable energy source with the biggest growth potential in the country and the EIB is glad to support this transition,” she said.

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