EBRD puts financial power in Darłowo wind farm

By Axel  Reiserer


Funding package of €62 million for new power plant in north-western Poland
 
The European Bank for Reconstruction and Development (EBRD) is supporting the third and final phase of the Darłowo Wind Farm Energy Centre in north-western Poland with a financial package worth PLN 256 million (€62 million equivalent).
 
The investment will co-finance the construction and operation of the Porzecze and Gorzyca wind farms with a total capacity of up to 74 MW. They are part of the Darłowo complex, a cluster of nine separate wind farms with a total installed capacity of 250 MW. The first two phases of 80 MW and 97.5 MW have been fully operational since March 2012 and May 2013 respectively.
 
Renewable sources of energy are an important means of reducing Poland’s dependence on power generated from coal and lignite. They will also help with meeting the renewable energy targets agreed with the EU. The new plants in Darłowo, located on the south coast of the Baltic Sea, will reduce CO2 emissions by approximately 140,000 tonnes a year.
 
Gregorz Zieliński, EBRD Director for Poland, said: “We are happy to support the finalisation of the Darłowo Wind Park, which is important because of its 250 MW capacity and the impact it can make. It is also one of the first projects under our new integrated approach for renewables in Poland which allows us to respond quickly and decisively to market-driven demand.”
 
“We greatly value the EBRD’s leadership and cooperation in achieving this important financial milestone and the first project financing between our two firms”, said Steve Ryder, Senior Vice President for Finance for Invenergy LLC. “We appreciate the EBRD’s confidence in Invenergy, together with our partner Enerco, to successfully develop and operate wind energy facilities in Poland.”
 
Since the beginning of its operations in Poland in 1991, the EBRD has invested €7 billion in more than 330 projects in the country. In the renewables sector in Poland the EBRD has invested almost €500 million in 10 projects to date.