Wednesday, May 22, 2024
HomeFinanceEBRD supports two wind farms in Poland

EBRD supports two wind farms in Poland

Poland is accelerating its transition from fossil fuels with the construction of two new wind farms financed by the European Bank for Reconstruction and Development (EBRD).

The EBRD is providing a loan of 26 million euros for a project in the north-east of the country with a total installed capacity of 51.4 megawatts (MW): Mława (37.4 MW), located approximately 110 kilometres northwest of Warsaw and Grajweo (14 MW), 60 kilometres southwest from Suwałki.

The wind farms will be built and operated by a joint venture between the Taaleri SolarWind Fund II, a fund managed by Helsinki based renewable fund manager and developer Taaleri Energia and Masdar, the Abu Dhabi Future Energy Company. Both wind farms will benefit from the Polish renewable energy support scheme (contract for difference) for a portion of their respective outputs following their successful bids in the December 2019 auction.

“We are pleased to further support the expansion of green energy in Poland with this excellent new project,” said Harry Boyd-Carpenter, EBRD Director for Energy EMEA. “We are delighted to join forces with our partners to use the opportunity to set the country on the path towards a new and sustainable energy future.”

Poland is committed to reducing its dependency on generating energy from coal with harmful effects on the environment and human health. The new wind power plants will help reduce annual CO2 emissions by approximately 126,000 tonnes annually and help fulfil Poland’s contribution to the EU climate and energy targets for 2030, which include a cut of at least 40 per cent in greenhouse gas emissions.

“We are very satisfied with the fourth investment from the Taaleri SolarWind II fund,” commented Taaleri Energia’s Managing Director, Kai Rintala. “This investment in Polish wind is underpinned by the increasing demand for clean energy and by a combination of the Contracts for Difference scheme and the availability of commercial offtake contracts in the Polish market.”

Since the start of operations in 1991, the EBRD has invested 10.8 billion euros in 453 projects of 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.

Sign up for our newsletters

    Monthly newsletter – Delivering the most important energy stories of the month selected by our Editor-in-chief
    Weekly Oil&Gas roundup - All major news about the oil and gas industry, LNG developments, the upscaling of new gases and related EU regulations arriving in your mailbox every Monday.
    Weekly Renewables&Climate roundup - All major news about investments in renewable energy sources, environment protection, green hydrogen and new innovative ways to tackle the climate crisis arriving in your mailbox every Tuesday.

    Most Popular