Golice Wind Project

Location:

Poland

Project number:

40782

Business sector:

Power and energy

Notice type:

Private

Environmental category:

B

Target board date:

11 Oct 2011

Status:

Repaying

PSD disclosed:

13 May 2011

Translated version of this PSD: Polish

Project Description

The EBRD is considering providing a senior loan to Golice Wind Farm Sp. z o.o. (the “Borrower”), a special purpose company owning 100 per cent interests in the Golice project, that in turn is fully and directly owned by Acciona Energy Poland Sp. z o.o. (the “Shareholder”). The financing will enable the Borrower to develop the 38 MW Golice wind farm in Poland (the “Project”).

Transition Impact

When approved by the EBRD’s Board the project will have the following transition impact:

(i) the demonstration effect of replicable behaviour and activities and setting standards for business conduct, through communicating the viability of renewable energy financing in Poland to the market; and

(ii) expansion of renewable energy sector in Poland, through supporting Acciona’s participation in this Project and other renewable energy projects in the country.

The Client

Golice Wind Farm Sp. z o.o. is a special purpose entity incorporated in Poland and fully and directly owned by Acciona Energy Poland Sp. z o.o., itself a subsidiary of Acciona Energía S.A (the “Sponsor”) incorporated under the laws of Spain.

EBRD Finance

Provision of a non-recourse long-term financing denominated in Polish Zloty, in the amount of up to PLN 97.2 million (€22.1 million equivalent) and representing up to 50 per cent of the total debt financing, and up to 35 per cent of the total Project cost. Bank Pekao S.A. and Caja Madrid (jointly with EBRD, the “Lenders”), as well as the Sponsor, are expected to provide the rest of the financing.

Project Cost

Approx. €55 million.

Environmental Impact

Categorised ‘B’ in accordance with EBRD’s 2008 Environmental and Social Policy (ESP). An environmental and social audit and analysis of the project and a review of the Company’s past and current operations and environmental and social management system was undertaken by independent environmental consultants as part of the Bank’s Environmental and Social Due Diligence (ESDD).

The ESDD reviewed the Environmental Impact Assessment and planning procedures which confirmed compliance with Polish environmental and administrative legal requirements. The Environmental Consent and Construction permits have been issued by the Authorities.

The wind farm is to be located in agricultural fields and near to two small villages. The project is not located within a protected area but there are several Natura 2000 sites and nature protection areas located in the vicinity. The closest identified protected areas are the Natura 2000 area Ujscie Warty (PLC 080001) (established to protect birds and habitats) and Ujscie Warty Landscape Park (protecting the Warta River estuaries landscape and part of the Natura 2000 ‘Ujscie Warty’), which border is located approximately 0.6 km north of the wind farm. The Golice-Lisow area is located near to the Odra River valley (5 – 10 km away), which is recognized as a feeding and migration path for birds in the “Ujscie Warty” Natura 2000 area and Odra River valley area.

Impacts to avifauna were assessed in a number of documents and the Environmental Decision requested that one wind turbine was moved south from the water ponds in the area, this has been taken into account in the final building design. ESDD identified data gaps so additional bird and bat surveys designed and approved by independent specialists have been organised by the Investor. A summary of the results of the monitoring studies will be made publicly available on the company website.
ESDD identified the need to improving stakeholder engagement practices (in accordance with the Bank’s (PR 10)) and additional institutional strengthening of Environmental, Health and Safety (EHS) management systems. Therefore the ESAP requires the implementation of a formal environmental, health and safety management system based on international standards and the adoption of a Stakeholders Engagement Plan including a Grievance Mechanism. Noise is to be monitored at the closest residential areas to confirm that the legal limit of 45 dB (A) at night is not exceeded. Construction activities will be supervised by environmental, health and safety and archaeology specialists. The ESAP will enable to the Company to meet national and EU environmental standards as well as achieve compliance with the Bank's PRs, which will further improve the Company's environmental management and overall performance.

The Company will provide to the Bank an annual environmental and social report, including updates on the implementation status of the ESAP and notification on any material accidents or incidents. The Company will facilitate periodic monitoring visits by Bank staff or appointed representatives, when deemed necessary.

Technical Cooperation

None.

Company Contact

Ms. Isabel Rodriguez de Rivera, Acciona Energy

Tel: +34 916 576 463
Email: Isabel.rodriguezrivera.ruiz@acciona.es

Business opportunities

For business opportunities or procurement, contact the client company.

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Email: procurement@ebrd.com

General enquiries

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Text of the PIP

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.