The European Bank for Reconstruction and Development (EBRD) is lending 30 million euros to support the development, construction and operation of a new 56 megawatts (MW) wind farm at Zelechowo in Poland.
The 16-turbine wind farm is expected to save 95,000 tonnes of carbon dioxide emissions a year.
The project will be co-financed with a commercial lender, mBank and the borrower is indirectly owned by Energix Renewables Energy, a leading Israeli independent power producer focusing on onshore wind and solar PV in Israel, Poland and the US. Having entered the Polish market in 2012, it is expected to reach 300 MW installed capacity in Poland by the end of 2022.
The drive towards net-zero carbon emissions by 2050 is the dominant theme in the European energy sector, enshrined in the 2019 EU Clean Energy for all Europeans package and the EU Green Deal. This requires massive investment in renewable energy in the coming decade. To date, the EBRD has invested 11.4 billion euros in 469 projects in Poland, where its focus is on promoting the low carbon economy, enhancing the private sector’s role in the economy and assisting in the development of a sustainable financial system and capital markets.