Zelechowo windfarm

Location:

Poland

Project number:

53113

Business sector:

Energy

Notice type:

Private

Environmental category:

B

Approval date:

23 Feb 2022

Status:

Disbursing

PSD disclosed:

23 Dec 2021

Project Description

Provision of a long-term senior secured loan to Patterpoint investments Sp. z o.o Banie 4 Sp.j. (the "Borrower" or the "Company") to finance the development, construction and operation of the 56MW Zelechowo wind farm located in north-western Poland (the "Project"). The Borrower is 100% indirectly owned by Energix Renewable Energies Ltd. ("Sponsor"), an Israeli renewables company publicly listed on the Tel Aviv Stock Exchange. The Project is constructed under supervision of Energix Polska Sp. z o.o. ("Developer"). 

Project Objectives

The Project will contribute to climate mitigation by adding 56MW wind generation capacity to the Polish national energy system. In addition, the Project will strengthen the private sector's role in the renewable energy sector in Poland.

Transition Impact

ETI score: 60

The Project targets the "Green" Transition Impact quality by supporting the construction of wind farm with a total installed capacity of 56MW. This capacity is expected to replace coal-fired power plants in the generation mix and consequently result in associated CO2 savings of over 96,000 tonnes annually. For part of the expected generation volume, the Project was awarded support in 2020 auctions under the Polish Contract for Difference support scheme.

Client Information

PATTERPOINT INVESTMENTS SP Z O O BANIE 4 SP J

Patterpoint investments Sp. z o.o Banie 4 Sp. j. is a private general partnership company incorporated in Poland, created for the sole purpose of constructing and operating the Zelechowo windfarm.

Additionality

Financing structure and Risk mitigation. EBRD supports a foreign investor in its ambition to become an independent power producer and provides comfort to the co-lenders to accept certain element of market risk in the financial structure. EBRD also provides comfort in relation to the country, regulatory and political risks, related to financing projects under the renewable support scheme for the Sponsor and co-lender.

Environmental and Social Summary

Categorised B (2019 ESP). The Project is in the near vicinity of an operational Bank financed category A Project (DTM 52312) in north-western Poland and is being developed by the same Developer. Based on review of project documentation and environmental and social impact report in line with the Bank's ESP 2019 the Project has been categorised B. The Bank's environmental and social due diligence (ESDD) assessed the cumulative impacts of existing windfarms as well as Zelechowo wind farm. Energix Polska Sp..z o.o. has updated the disclosure documentation accordingly.

Previous experience with the Developer has shown a robust capacity to manage projects in line with EBRD's PRs and international best practice. The ESDD undertaken by independent consultants confirmed that the project is structured in line with EBRD PRs as well as national and relevant EU legislation. Overall, studies undertaken to date (including local EIA) have shown that the Zelechowo wind farm, consisting of 16 wind turbines, is not located in a sensitive area in terms of biodiversity (such as IBAs or Natura 2000 areas) or near human receptors. Results of biodiversity studies show low risk of bird collision from the planned Zelechowo wind farm or the existing Banie 1-3 wind farms. The local Competent Authorities have approved the development and no issues have been raised as part of the development consent and consultation process. The ESDD has confirmed that land has been acquired on the basis of willing buyer and seller and the Company has been operating in compliance with local labour laws and H&S systems, and in line with relevant PRs.

The Developer has updated its sustainability disclosure documentation for this project and developed an NTS and SEP that covers the results of cumulative assessments. The Developer will also extend the existing stakeholder engagement plan (SEP) and EHS procedure for the Zelechowo wind farm as for Banie 3. The Developer is implementing the existing ESAP including contractor management in regards to H&S and labour management. Based on the ESDD the ESAP has been updated. The Bank will monitor the project jointly with Banie 3 monitoring. The project is considered aligned with the objectives of the Paris Agreement.

Additional information on the Company can be found below. This includes the NTS, SEP and local EIA for the Zelechowo wind farm: https://www.energixpolska.com/zelechowo 

The NTS is available in Polish and in English.

Technical Cooperation and Grant Financing

None.

Company Contact Information

Artur Violante
arturv@energix-group.com
+972-3-5668855
+972-3-5668822
www.energixpolska.com
Plac Stanislawa Malachowskiego 2, 00-066 Warsaw, Poland

Implementation summary


PSD last updated

27 Jan 2022

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

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Tel: +44 20 7338 6794
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General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP 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 following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email ipam@ebrd.com to get guidance and more information on IPAM and how to submit a request.

 

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