Q-Energy acquires financing for Polish solar farm with Amazon PPA
- Spanish renewables financial investment platform Q-Energy last week stated it has shut financing for a 113-MWp (87-MW AC) solar farm in Poland that will create electricity for United States technology group Amazon (NASDAQ: AMZN).
Q-Energy has obtained virtually EUR 100 million (USD 97m) of financing to money the building of the solar power plant, with PKO Financial institution Polski acting as the sole mandated lead arranger. The deal consists of an elderly term financing.
The project is located in Legnica and is presently under development. P&Q is the basic contractor for the center, which is expected to generate more than 120 GWh of electricity annually, comparable to the annual need of some 57,000 Polish households.
The solar farm's result will certainly be offered to Amazon under a lasting business power purchase agreement (CPPA).
"This is one of the biggest CPPAs to date in Poland as well as stands for a significant site for the utility-scale solar market of the nation," said Krzysztof Zieniewicz, nation head of Q-Energy Poland.
Amazon recently announced the enhancement of 2.7 GW to its worldwide renewable resource portfolio, including its very first solar farm in Poland.
Q-Energy states it has 3 GWp of solar (PV) capacity under growth throughout several projects in Poland that are expected to be deployed in between late 2024 and also 2026.
