European Energy has secured funding of DKK 398M (€53.5M or £44.7M) for five Polish wind farms with a total capacity of 44,675 MW; approx 10,000 households.
Construction of the parks started in 2021, and the expected grid connection for the parks will be in the first half of 2022.
“With our first project financing at five wind farms, we have secured another milestone in Poland. We look forward to repeating this kind of successful financing in the future”, said Executive VP of European Energy, Jens-Peter Zink (pictured).
Poland aims for a solar energy capacity of around 5-7 GW and 11 GW for offshore wind energy by 2040. The country also has a 2030 target for 32% of electricity used to be from renewable sources.
European Energy develops, finances, constructs and operates wind and solar farms, plus large-scale renewable powered hydrogen and methanol (Power-to-X) plants. The Copenhagen-based company has established projects in Europe, Brazil, USA and Australia.
European Energy opened an office in Warsaw in 2021 and has more than 2 GW of development pipeline in Poland including both solar and wind.
The financing comes from German firm, Norddeutsche Landesbank Girozentrale, and Danish company, Danmarks Eksportkredit.
European Energy sikrer finansiering til polske projekter (European Energy secures financing for Polish projects), Ritzau / European Energy, 2022-01-26