Poland's PFR fund to co-finance nation's very first 200-MW solar-wind project

• Polish Development Fund (PFR) said one of its units will give a PLN-90-million (USD 20.8 m/EUR 19.1 m) subordinated financing to Lewandpol Group, developing the first 200-MW solar as well as wind project in Poland.

The financing, granted to help with the project building and construction, supplements a senior funding package of PLN 776 million expanded by a bank syndicate including ING, PKO BP as well as mBank, the fund claimed on Friday.

The initial phase of the project in Kleczew, the central Wielkopolskie province, foresees linking 193 MWp of solar (PV) panels as well as approximately 19.2 MW of wind turbines to the grid in 2023, which should suffice to power some 100,000 households.

In the next stages, the nuclear power plant can be increased to about 250 MWp in the solar part in addition to adding some added wind turbines and also power storage space centers.

The farm is being improved redeemed coal mining areas in the Konin district, which is "a symbolic and also crucial action in the direction of decarbonising the Polish economy as well as guaranteeing low-cost and clean electrical power," Lewandpol CEO Andrzej Lewandowski pointed out.

The project was prepared by E&G from the Lewandpol Group as the investor and also Ergy as the project asset manager and financial advisor to the investor.

The Lewandpol Group, a leading Polish personal investor in renewable resource, started its activities in the country by purchasing wind farms at the development stage. Since 2014, the group has focused on mature renewable energy projects - at the ready-to-build or later stages. Lewandpol also manages the 67.5-MW Lancut Wind Farm in south-eastern Poland, which was built in 2015.

State-owned PFR is a group of development establishments providing monetary and advisory assistance to entrepreneurs, city governments as well as individuals investing in the lasting economic development of Poland.