Ignitis Group has signed a financing deal with the European Investment Bank (EIB) for the construction of a new wind farm project in the Pomerania region of Poland.
The EIB has agreed to lend around €60 million to Pomerania Wind Farm, a subsidiary of Ignitis, which is building 94 MW of onshore wind capacity near the Baltic coast.
The 29-unit wind park is located in the Pomeranian Voivodship, approximately 50 km from the coastline of the Bay of Gdansk, in the municipalities of Dzierzgon and Stary Targ. Works started in July last year, and the project is expected to be operational in the spring of 2021.
The EIB financing is supported by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe, in which the European Commission and the EIB are strategic partners. It will cover around 47 per cent of the project investment, EIB said.
EIB vice president Teresa Czerwinska said: “There is huge potential for generating energy from renewable sources in Poland, and this project is yet another example of how wind farms can contribute to the country’s energy mix and sustainable development.
“The EIB has considerable expertise in financing wind energy around the world. With our new Energy Lending Policy, we are committed to supporting even more such projects and we are happy that this particular project is very much in line with our climate objectives”.