Developer secures financial investment for Polish PV buildout
- JSC will provide 40MW of capacity during 2023 with a loan from Bank Pekao
JSC has authorized an agreement worth EUR22m with Bank Pekao to fund the building of 68MW of solar capacity in Poland.
About 40MW capacity will certainly be installed this year, with the rest coming to be functional in 2024.
JSC (Atsinaujinančios Energetikos Investicijos) is a closed-end investment company for informed investors handled by Lords LB Asset Management.
"Despite the volatility in power markets, in 2022, Poland was among Europe's frontiers in new solar PV capacity installments.
"The goal for 2023 is a lot more ambitious, as well as we are delighted to join this process," claimed Kristina Kepsnytė-Bugaitienė, Head of Business Development at JSC.
Bank Pekao will certainly give a total package of services by functioning as the Loan Agent, Security Agent, Project Account Bank, and participating in hedging transactions.
JSC has been dealing with Bank Pekao since 2022, when the bank provided lasting financing for a 65.57 MW solar park in Poland.
JSC runs 68.1 MW of solar energy plants in Poland as well as Lithuania.
It also co-owns a 185.5 MW wind power plant portfolio in Lithuania and will certainly remain to proactively establish as well as buy solar as well as wind power projects in the Baltic and also Polish markets.