Sepopol windfarm

Location:

Poland

Project number:

52313

Business sector:

Energy

Notice type:

Private

Environmental category:

B

Approval date:

14 Apr 2021

Status:

Passed Final Review, Pending Approval

PSD disclosed:

12 Mar 2021

Project Description

Provision of a long-term senior secured loan to Derickar Investments sp. z o.o. Eneal sp.j. (the "borrower") to finance the development, construction and operation of the 44MW Sepopol 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.

Project Objectives

The project will contribute to climate mitigation by increasing the share of renewable energy generation in Poland and add 44MW 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 targets the "Green" Transition Impact quality by supporting the construction of a wind farm with a total installed capacity of 44MW. This capacity will replace coal-fired plants in the generation mix with expected associated CO2 savings of over 86,200 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.

Client Information

DERICKAR INVESTMENTS SP Z OO ENEAL SP J

Derickar Investments sp. z o.o. Eneal sp.j. (in transition phase)

The borrower is a private general partnership company incorporated in Poland, created for the sole purpose of constructing and operating the Sepopol wind-farm.

EBRD Finance Summary

PLN 93,600,000.00

Total Project Cost

PLN 264,800,000.00

Environmental and Social Summary

Categorised B (ESP 2019). The Project is the development of a medium sized wind farm  comprising 20 wind turbines and associated project components, located in the area of Rozyna and Sipopol in the Warmiisko-Mazurskie Voievodship, in north i east Poland.

 

An Environmental and Social Due Diligence (ESDD) has been undertaken by an independent consultant which confirmed that the Project is structured to comply with the Bank's Performance Requirements (PR's) and the Company has the institutional capacity to implement the Bank's PRs.

 

The ESDD confirmed that the land has been acquired based on willing buyer seller agreements and the project is consistent with the local development plans. The local commune will receive payments for each turbines in line with the Polish building code.

 

The ESDD identified that part of the site (9 turbines) are located in a Natura 2000 site Ostoja  Warmiiska (PLB280015), Special Protection Area (Birds Directive) and 2 km NW of the Warmia IBA site. The Project has been approved by the National Competent Authorities and valid development and construction permits are in place. The  stand-alone Appropriate Assessment has not been required by the Competent Authorities. The ESDD included additional biodiversity/ bird studies and impact assessment, including additional ornithological review and confirmed the conclusions of the preliminary studies undertaken at the permitting stage, namely that the project does not raise potential impacts on the integrity of the Natura 2000 site or Critical Habitat.

 

The  Sponsor committed in the ESAP to appoint an independent ornithological expert to continue with avifauna surveys (birds and bats) throughout  construction and operation over the next 3 years (to be potentially extended based on the findings),  implementing a fatality  (carcass) monitoring program and based on these developing additional  mitigation measures in line with National guidance and the 2020 EU Guidance document on wind energy developments and EU legislation as required. The ESAP commits the company to develop and implementa  shutdown protocol as and when required, based on the continued avifauna monitoring, and contains actions to further monitor noise and impact on communities including the use of the grievance mechanism and ensuring H&S applied during the construction process. 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 April 2021

 

An NTS has been developed for this Project and is available below, and information on the Project can be obtained on the Company web site

 

The Bank will continue to monitor the implementation of the Project.

Technical Cooperation and Grant Financing

n/a

Company Contact Information

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

PSD last updated

12 Mar 2021

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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