EBRD supports construction of a wind farm in Poland

Construction work is about to begin for the 38 MW wind farm in Szymankowo in northern Poland, the first renewables investment in the country to be structured purely on the basis of market pricing and with no support from subsidies.

The EBRD will support the project with a long-term loan of up to PLN 42 million (€10 million equivalent).

The Szymankowo wind farm will have a capacity of 38 MW generated by 11 turbines and is expected to be connected to the grid in 2021.

The estimated annual production of the wind farm will correspond to the annual electricity demand of 60,000 households. The project will lead to annual reductions in emissions of up to 104,000 tons of CO2, 98 tons of SO2, 99 tons of NOx and 35 tons of CO. With Szymankowo, the total capacity of Polenergia’s onshore wind farms will increase by 15 percent to 287 MW.

Grzegorz Zieliński, EBRD Regional Director, Central Europe and the Baltics, said: “We are pleased to support this project as a major step forward in the ‘greening’ of the Polish economy. This is a particularly attractive example demonstrating that renewables are now fully competitive in the market space, based on their performance and pricing.”

To date, the EBRD has invested €9.9 billion in 420 projects in Poland. Supporting the transition to a green economy in Poland, the largest coal producer in Europe and heavily affected by air pollution, is one of the Bank’s priorities in the country.

Original source: EBRD
Published on 06 November 2019