Funding safeguarded for 286-MWp solar project in Poland
- German EPC company Goldbeck Solar GmbH and its partner Respect Energy S.A. have protected a PLN-635-million (USD 140.65 m/EUR 135.44 m) lending for a 286-MWp solar project in Poland with the first stage of the park expected to browse the web in June.
The financing for the Zwartowo project is offered by the European Bank for Reconstruction and Development (EBRD) as well as Polish loan providers PKO BP SA (WSE: PKO) and also Pekao SA (WSE: PEO).
"The project was quite possibly received by the borrowing area, and an affordable tender process allowed it to achieve market-leading funding terms, including a tenor of 18 years," said Goldbeck Solar's head of Project Finance Olga Kovalchuk.
Situated concerning 65 km (40.39 mi) northwest of the city of Gdansk, Zwartowo will be Poland's biggest solar park efficient in providing around 153,000 houses with clean power. The construction of the center started in early 2021 and also the very first stage is currently getting in completion, Goldbeck Solar said recently.
"In spite of all hardships, building and construction is continuing on time. Provided the recurring interruption of supply chains, the covid pandemic as well as war in Ukraine, this is a significant accomplishment," claimed Goldbeck Solar's president Joachim Goldbeck.
The overall price of the project is estimated at nearly EUR 200 million (USD 207.7 m).