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.
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.
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.
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
Total Project Cost
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
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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