Caldoris SME



Project number:


Business sector:

Power and energy

Notice type:




PSD disclosed:

03 Oct 2017

Translated version of this PSD: Polish

Project Description

An up to PLN 44 million (EUR 10 million) loan to Caldoris Polska Sp. z o.o. (the "Company" or "Caldoris") for accelerating the roll-out of renewable energy generation focused on the roof-top photovoltaic ("PV") panels for small and medium-sized enterprises ("SM ") in Poland (the "Project").

Project Objectives

The Project promotes innovative renewable energy solutions without reliance on any support scheme or grant money. The Project would be EBRD's first subsidy independent renewable energy investment in Poland.

Transition Impact

The Project targets the Competitive and Green Transition Qualities.

  • Competitive: The Project will help to promote a private company in the Polish electricity sector and demonstrate that distributed renewable energy generation can be commercially viable and competitive without public support. The business model is expected to have demonstration potential in other market segments or countries.
  • Green: The Project will help the Company to install at least 20 MW of roof-top solar PV among Polish corporate users. Such capacity will lead to substantial CO2 emission reductions.

Client Information


Caldoris was originally established 7 years ago to develop the PV thermal collectors business. At that point solar collectors purchase was supported by an attractive subsidy scheme and the Company secured 20% market share in this segment. In 2016, the Company has successfully reshaped its business model into economically viable, environmentally efficient and support independent framework for SME clients. The new business model was recognised by the clients and during the first year Caldoris managed to acquire more than 300 clients totalling ca. 4 MW of capacity.

EBRD Finance Summary

PLN 44,000,000.00

Total Project Cost

PLN 44,000,000.00

Environmental and Social Summary

Categorised B. The Project has limited environmental risks and is considered to have positive impact on the emission reductions, as well as potentially air pollution levels (in case of Caldoris clients located in highly polluted areas).

Environmental and social due diligence ("ESDD") will be carried out by the Bank's Environmental and Social Department (ESD) and will focus on Company's environmental, health and safety management systems, issues related to health and safety and waste management in panel installation and maintenance and any environmental and social risks in the solar panel supply chain.

The underlying environmental and social risks, related to provision and installation of solar panels for corporate clients, are expected to be easily assessed, localised and mitigated through appropriate management.

An Environmental and Social Action Plan ("ESAP") will be developed and agreed based on the findings of the ESDD.

Technical Cooperation


Company Contact Information

Urszula Baranowska, Communications Director
+48 601-169-961

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

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