WKN Pomerania Wind

Location:

Poland

Project number:

52194

Business sector:

Energy

Notice type:

Private

Environmental category:

B

Approval date:

21 Oct 2020

Status:

Disbursing

PSD disclosed:

25 Aug 2020

Project Description

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.

Project Objectives

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.

Transition Impact

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.

Client Information

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

PLN 177,500,000.00

Additionality

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

n/a

Company Contact Information

Stefan Ebeling
ebeling@sevivon.pl
+49 4841 8944-284
+49 4841 8944-225
www.sevivon.pl
Sevivon Sp. z o.o., ul. Obywatelska 2A, 80-259 Gdansk / Poland

PSD last updated

30 Sep 2020

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

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

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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