The provision of a long-term senior secured loan of up to PLN 177.5 million (€40 million) to Forthewind sp. z o. o and Sevivon Windpark 2 sp. z o. o, two Polish companies established by WKN GmbH, for the acquisition, construction and operation of the 19.2MW Krzecin wind farm and the 39.6MW Kuslin wind farm.
The project will contribute to climate change mitigation and Polish energy green transition by increasing the share of renewable energy generation in Poland and add 59 MW wind generation capacity to the national energy system. In addition, the project will strengthen the private sector's role in the renewable energy sector in Poland.
ETI score: 60
The project will target the "Green" quality by supporting the construction of two wind farms with a total installed capacity of 59MW. This capacity will replace coal-fired plants in the generation mix with expected associated CO2 savings of over 145.000 tonnes annually.
FORTHEWIND SP ZOO
Forthewind sp. z o. o and Sevivon Windpark 2 sp. z o. o
The Borrowers are fully owned by WKN GmbH which is part of the PNE AG, a German renewables developer publicly listed on XETRA, Frankfurt, and operating internationally.
EBRD Finance Summary
The Bank's additionality stems from supporting the renewable energy sector, which is particularly critical under the currently difficult market conditions under which long term non-recourse financings have become more challenging.
Environmental and Social Summary
Categorised B (ESP 2019). The ESDD for the Project, consisting of two small to medium sized wind farms, was undertaken by an independent consultant in line with ESD's response to COVID-19 and travel restrictions being put in place. The Project has been permitted by Competent Authorities and has been subject to local permitting (including EIA) for the wind farms as well as associated infrastructure such as roads and power lines. The ESDD confirmed that the wind farms are not located in sensitive areas and the Sponsor has the institutional capacity to fully implement the Bank's Performance Requirements.
The wind farms are located within agricultural areas away from protected areas or sensitive bird migratory routes, as confirmed by the EIA studies and the independent ESDD. Both sites are located away from residential areas and will have limited impact on human receptors as well as flora and fauna. As part of the ESDD, additional cumulative assessments were undertaken for both wind farm, inclusive of noise, to confirm the assessment made in the EIA.
The developer has reached long term agreements for the land leases through voluntary negotiations with the land owners. The Project will not be associated with resettlement or livelihood loss and is fully compliant with the local development plans. Currently the area is used for agricultural purposes and it is surrounded with arable fields, forested areas or meadows. The developer has reduced the number of turbines in each site to limit impacts such as noise and ensure the Projects are compliance with the local development plans.
The ESDD identified the need for additional post construction monitoring and implementation of best EHS management practices. This includes among other measures, the need to develop additional grievance mechanism and stakeholder engagement process as well as the review of operations based on bird and bat monitoring in 3 years' time. An independent ornithological expert will be appointed to undertake the post construction monitoring. The ESAP has been agreed.
A non- technical summary (NTS) and a stakeholder engagement plan (SEP) have been developed for the Project and the NTS will be published on the Sponsor's website and the Bank's web site prior to Bank approval.
The Bank will monitor the implementation of the Project through review of annual reports.
Technical Cooperation and Grant Financing
Company Contact Information
+49 4841 8944-284
+49 4841 8944-225
Sevivon Sp. z o.o., ul. Obywatelska 2A, 80-259 Gdansk / Poland
PSD last updated
30 Sep 2020
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Environmental and Social Policy (ESP)
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More information on the EBRD’s practices in this regard is set out in the ESP.
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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.
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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 how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requesters’ identities may be kept confidential, upon request.