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HomeFinanceEuropean Energy secures 53 million euros funding for new Polish wind farm

European Energy secures 53 million euros funding for new Polish wind farm

The Danish green energy company European Energy has secured funding for 53 million euros from the German bank NORD/LB for the construction and operation of the 38.8 megawatts (MW) Liskowo wind farm in northwestern Poland.

“Poland is one of the key markets for European Energy,” said Olga Sypula, Country Manager Poland in European Energy. “The speed of the green transition in the country is breathtaking.”

The transaction was advised by the international law firm Dentons which supported NORD/LB in preparing, negotiating and executing the finance documents and guarantee, carrying out legal due diligence on the project and advising on renewable energy regulations. German export credit agency Euler Hermes is guaranteeing a substantial part of the long-term senior debt facilities, the first project finance transaction guaranteed by Euler Hermes in Poland.

“We are honoured to have played a part in this innovative transaction and to work again with the highly experienced team from NORD/LB”, said Christian Schnell, Partner in the Energy and Natural Resources team in Warsaw, who led the project.

“It was a true privilege to be able to support our clients on this outstanding transaction, involving Euler Hermes’ first promotion of a wind power project financing in Poland”, said Piotr Nerwiński, Partner in the Banking and Finance team in Dentons’ Warsaw office, who supervised the financing of the transaction.

In Poland, European Energy is already operating 40 MW of wind power plants. The Liskowo wind farm is expected to be connected to the Polish grid in the first half of 2023. 

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