RENEWABLESBIZ: EBRD arranges financing for Banie wind farm extension in Poland

The European Bank for Reconstruction and Development (EBRD) is strengthening Polands capacity to address global challenges like climate change with a financing package for the second phase of the Banie wind farm in north-western Poland with a 56MW extension.

The EBRD will extend its financing with an additional loan of PLN 162 million (37 million equivalent) to finance phase 2 of the project. Additional PLN 90 million (20 million equivalent) will be provided by Alior Bank. The first phase of the project was the successful installation of 50MW capacity.

The funds will refinance part of the construction costs for phase 2 of the wind farm. Once operational, phase 2 of the Banie wind farm will lead to reductions of approximately 97,000 tonnes of CO2 emissions each year.

Increasing the share of renewables in the national energy mix is imperative for Poland in order to meet the EUs emission reduction targets. At present, the country generates over 80 per cent of its energy in coal- and lignite-fired power plants.

 

Read full article at RenewablesBiz.com: http://www.renewablesbiz.com/article/16/05/ebrd-arranges-financing-banie-wind-farm-extension-poland?quicktabs_4=2

Image: https://upload.wikimedia.org/wikipedia/commons/