Ignitis Group borrows from NIB for Pomerania wind farm
Published by Lydia Woellwarth,
Editor
Energy Global,
Nordic Investment Bank (NIB) agreed to lend up to PLN 150 million (approximately €33.5 million) to Pomerania Wind Farm sp.z o.o., a subsidiary of Ignitis Renewables, which is part of Ignitis Group. This loan will be used for the development of Pomerania wind farm, with a total installed capacity of 94 MW.
The Pomerania wind farm, which is the first Ignitis Groups’ project of its kind in Poland, will consist of 29 wind turbines with a nominal capacity from 3 MW to 3.3 MW. This wind farm will be one of the largest in Poland.
In March 2020, a PLN 258 million (approximately €60 million) loan for the development of the Pomerania wind farm was also provided by the European Investment Bank (EIB). Loans from NIB and EIB together will cover approximately 70% of the project investment costs.
The wind park is expected to be operational in the spring of 2021 and has an expected capacity of 300 GWh of electricity, potentially supplying around 160 000 households with the clean energy generated by the project, on an annual basis.
“Wind power is one of the most sustainable sources of electricity. This project will add renewable energy to the grid and indirectly contribute to lower CO2 emissions by crowding out electricity generated with fossil fuels”, says Henrik Normann, President & CEO of Nordic Investment Bank.
“Pomerania wind farm will contribute to a faster decarbonisation of the Poland energy system and will significantly expand the Green Generation portfolio managed by Ignitis Group. This project will also strengthen our position in the rapidly developing renewable energy market of our neighbouring country”, says Darius Maikštenas, Chairman of the Board and CEO of Ignitis Group.
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Read the article online at: https://www.energyglobal.com/wind/23102020/ignitis-group-borrows-from-nib-for-pomerania-wind-farm/
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