Translated version of this PSD: Polish
The EBRD is considering providing a Polish Zloty long-term loan of up to €68 million equivalent to finance the construction and operation of a 120MW greenfield Pawlowo wind farm in north-west Poland. The Project is being developed in two phases: Phase I of 79.5MW located in the municipality of Gołańcz to be completed in 2013 and Phase II of 40.5MW located in the municipality of Budzyń to become operational in 2015. The Project will assist Poland in increasing its renewable energy capacity to meet EU’s green energy quotas.
The project has the potential to demonstrate a successfully operating large scale wind power generation facility, confirming the success story of Margonin wind farm also developed by EDPR and commissioned in 2010, and, as such, attract other investors and financiers in the Polish renewable energy sector. The Project is expected to be one of the first projects in Poland to be financed during the continuing regulatory uncertainty period and as such will demonstrate that limited-recourse financing of renewable energy projects, especially merchant ones, is still achievable in Poland.
The Project is being developed by Relax Wind Park III Sp. z o.o., a special purpose company, fully owned by EDP Renewables Polska Sp. z o.o., which is the Polish subsidiary of EDP Renewables EU, the European holding of EDP Renováveis, S.A. (“EDPR” or the “Sponsor”).
EDPR is the world’s third largest wind energy producer with installed capacity of 8GW across 11 countries at the end of 2012 and a pipeline of 158MW under construction and 18,648MW under development. EDPR is an existing client of the Bank being very active in the Polish and Romanian wind markets.
Polish Zloty long-term debt financing of up to PLN 301million. The project is expected to be financed along commercial banks.
The total project cost, including financial costs, is estimated at approximately €195 million.
Categorised A, due to the number of turbines and their potential impact, in the context of the location adjacent to the operating Margonin wind farm and the future transmission line. An Environmental and Social Impact Assessment (ESIA) package has been prepared and will be disclosed for 60 days of public review and comment prior to EBRD Board consideration. The ESIA package includes the ESIAs for the operating Margonin wind farm and the proposed Pawlowo wind farm (Gołańcz- Budzyń wind farms together); a NonTechnical Summary of all the windfarms; a Stakeholder Engagement Plan; and a draft Environmental and Social Action Plan (ESAP).
The ESAP requires that the projects be constructed and operated in full compliance with Polish law and the Bank’s Performance Requirements. The land on and around the project site is primarily agricultural. The windfarms are not located within five kilometres of any Natura 2000 areas or other protected area, although the transmission line will cross a Natura 2000 area established as a special bird protection zone and special habitats protection zone. Bird surveys show the area is not crossed by large numbers of migrating birds, and that bird/bat populations are typical for agricultural areas. There have been no unacceptable mortality rates at the operating Margonin wind farm, and the same is expected for Pawlowo wind farm. The ESAP requires further monitoring during operation to verify findings of monitoring conducted to date. Should future results suggest unacceptable mortality, additional mitigation will be required.
Noise monitoring at Margonin wind farm showed noise levels within legal standards, and the same can be expected at Gołańcz - Budzyń wind farms with the implementation of special operational controls to reduce noise at certain wind speeds and directions to switch off one turbine during winter nights under certain conditions.
The project’s calculated greenhouse gas emission reductions will be 460,000 to 531 000 tons of CO2-equivalent annually, calculated on the basis of average emissions per electricity unit generated in Poland.
The Bank’s environmental and social due diligence has confirmed the Company has a robust environmental and health & safety management system and has fully implemented the ESAP for the Margonin wind farm. Ongoing environmental monitoring for Margonin shows the Project to be in compliance with Polish and Bank requirements. The monitoring and social programs being implemented at Margonin will also be put in place at the new Gołańcz and Budzyń wind farms.
Following ESIA disclosure and the 60-day public review and comment period, all concerns raised will be summarised and responded to for EBRD Board consideration. The ESAP may also be amended if new information or analyses suggest this would improve environmental and social performance of the project. This Project Summary Document will be updated in case of important new information or significant revisions to the ESAP.
There is an Environmental and Social Impact Assessment available for this project.
Celma João Batista Pires
EDP Renováveis, S.A.
Serrano Galvache, 56
Centro Empresarial Parque Norte
Edificio Encina, 1st
CP 28033 Madrid
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