PAD RES Secures EUR 25M for Polish Solar Expansion

• PAD RES secures EUR 25M loan from Bank Millennium, boosting Poland's solar energy sector with 60.45 MW capacity, enhancing green finance and energy resilience.

PAD RES, a Polish renewable energy developer, has secured a EUR 25 million loan from Bank Millennium to support the operational needs of 13 solar photovoltaic farms with a total capacity of 60.45 MW. This financing will be used for refinancing, working capital, and technical support, ensuring long-term operational stability and enhancing financial flexibility for PAD RES's renewable assets.

The solar farms are already operational, contributing clean electricity to the national grid, and the funding highlights Bank Millennium's commitment to green finance aligned with EU climate goals. This loan marks a significant milestone in Poland's solar sector, supporting national renewable energy targets and improving local energy resilience.

How will PAD RES's EUR 25 million loan impact Poland's solar energy sector?

• The EUR 25 million loan will enable PAD RES to optimize the performance and maintenance of its solar farms, ensuring consistent energy output and reliability.
• By refinancing existing projects, PAD RES can allocate more resources towards expanding its solar capacity, potentially leading to new solar farm developments in Poland.
• The financial support will enhance PAD RES's ability to invest in advanced solar technologies, increasing the efficiency and lifespan of their solar panels.
• This investment will likely encourage other financial institutions to support renewable energy projects in Poland, fostering a more robust green finance ecosystem.
• The loan will contribute to Poland's national renewable energy targets by increasing the share of solar energy in the country's energy mix.
• It will help reduce Poland's reliance on coal and other fossil fuels, aligning with EU climate goals and reducing carbon emissions.
• The funding will support job creation in the renewable energy sector, from construction to maintenance, boosting local economies.
• By improving local energy resilience, the loan will help stabilize energy prices and reduce the risk of energy shortages in Poland.
• The success of this financing model could serve as a blueprint for future renewable energy projects in Poland and other EU countries.