European Energy secures financing for 70 MW solar farms

• European Energy A/S secures financing from mBank for two solar farms in Poland, boosting renewables capacity to 200 MW. Crucial step for Poland's renewable energy goals.

European Energy A/S, a Danish renewables developer, has secured financing from Polish lender mBank for the construction of two solar farms in Poland with a total capacity of 70 MW. The projects, the 16-MW Lobez array and the 54.2-MW Debnica Kaszubska facility, are already under construction in Pomerania and West Pomerania and are expected to be completed by the final quarter of 2024. Once operational, they will generate an estimated 67 GWh of electricity annually.

The EUR 33.3 million (USD 36.7m) financing agreement with mBank will increase European Energy's renewables operating capacity in Poland to 200 MW. Olga Sypula, the country manager in Poland for European Energy, stated that the agreement with mBank is crucial for the renewable energy buildout in Poland. The development of these solar farms will contribute to the country's efforts to increase its renewable energy capacity.

How will European Energy's financing agreement with mBank impact Poland's renewable energy goals?

• The financing agreement with mBank will allow European Energy to increase its renewables operating capacity in Poland to 200 MW.
  
• The construction of the two solar farms in Poland, with a total capacity of 70 MW, will contribute to the country's efforts to increase its renewable energy capacity.
  
• Once operational, the solar farms are expected to generate an estimated 67 GWh of electricity annually, further supporting Poland's renewable energy goals.
  
• The projects, located in Pomerania and West Pomerania, are expected to be completed by the final quarter of 2024.
• Olga Sypula, the country manager in Poland for European Energy, emphasized that the financing agreement with mBank is crucial for the renewable energy buildout in Poland.