Provision of a long-term senior secured loan to Gaberpoint Investments sp. z o.o Banie 3 sp.j. (the "borrower") to finance the development, construction and operation of the 81.4MW Banie Phase 3 wind farm located in north-western Poland (the "project"). The project has been developed by Energix Polska Sp. z o.o, (the "developer"). The borrower and developer are owned by Energix Renewable Energies Ltd., an Israeli renewables company publicly listed on the Tel Aviv Stock Exchange and operating internationally.
The project will contribute to climate mitigation by increasing the share of renewable energy generation in Poland and add 81.4 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 targets the "Green" Transition Impact quality by supporting the construction of a wind farm with a total installed capacity of 81.4MW. This capacity will replace coal-fired plants in the generation mix with expected associated CO2 savings of over 172,200 tonnes annually. The project is expected to benefit from the Contract for Difference support scheme on part of its expected generation volume awarded in competitive auctions conducted by Polish authorities in December 2019.
GABERPOINT INVESTMENTS SP Z OO BANIE 3 SP J
The borrower is a private general partnership company incorporated in Poland, created for the sole purpose of constructing and operating the Banie 3 wind farm.
EBRD Finance Summary
Total Project Cost
Environmental and Social Summary
Categorised A (ESP 2019). The Project is Phase 3 and an extension of the existing Bank-funded Banie 1 and 2 wind. Banie 3 will add 37 turbines (additional 81.4 MW) to the existing 106 MW Banie 1 and 2 wind power project located in north-western Poland (the "Project"). The Banie 1 and 2 as well as Banie 3 windfarms have been categorized A due to cumulative impacts. The Sponsor has developed an Environmental and Social Impact Assessments (ESIA) disclosure package for Banie 3 project, which was disclosed on the Bank's website on 5th February 2021 in line with the Bank's PRs and 60 day public disclosure period.
An Environmental and Social Due Diligence (ESDD) was undertaken by an independent consultant and this confirmed that the Project is structured to comply with the Bank's Performance Requirements (PRs) and the Company has the institutional capacity to implement the Bank's PRs.
All three phases have been permitted by the relevant competent authorities and no objections or issues have been raised to date by third parties. The ESIA disclosure package included a cumulative assessment of all three phases and the ESDD confirmed that the Bank funded Project is compliant with the Bank's PRs and will likely not impact Natura 2000 areas. There is an on-going assessment undertaken by the Client, as required under existing permits and the Bank agreed ESAP, to assess potential impacts to the white tailed eagle population in the region. The Project will not impact residential areas, and noise modelling has shown compliance with national and EU legal requirements. This have been verified as part of commissioning audits for Banie 1 and 2 and will be further confirmed for Banie 3 during operation, by implementing noise monitoring programs. All land acquisition has been undertaken based on voluntary contracts and in line with the local development plans. No significant labour issues were identified.
The ESDD confirmed that the Company has been implementing the existing ESAPs for previous phases, inclusive of on-site avifauna (birds and bats) monitoring and no material issue has been identified. Construction of existing wind farms in Banie has been well managed to date with no EHS incidents reported. Stakeholder engagement activities have been aligned to social distancing and other communication restrictions caused by COVID-19 and will be finalised by the end of the public consultation period at the end of April 2021. Based on the ESDD the ESAP has been updated and includes actions to further monitor the impacts of projects on avifauna, noise and communities including the use of the grievance mechanism and ensuring H&S standards applied during construction process.
Information on the Project can be obtained on the Company web site. An ESIA has been disclosed for this Project.
The Bank will continue to monitor the implementation of the Project.
Technical Cooperation and Grant Financing
Company Contact Information
Plac Stanisława Małachowskiego 2, 00-066 Warsaw, Poland
PSD last updated
12 Mar 2021
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Independent Project Accountability Mechanism (IPAM)
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